Month: February 2023

Following a hefty increase in POL prices, the government on Tuesday hiked the rate of indigenous liquefied petroleum gas (LPG), also called a poor man’s fuel, by Rs60/kg which will enhance the price of 11.8kg domestic cylinder by approximately Rs704. As per the notification issued by the Oil and Gas Regulatory Authority (OGRA) the price of indigenous liquefied petroleum gas (LPG) has been increased by more than 29pc or Rs60/kg for domestic and commercial consumers for the month February 2023. According the notification, the price of  LPG has been increased…

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The Balochistan government has received an amount of $3 million from the Barrick Gold Corporation as part of the new Reko Diq agreement. A company’s press release says after the completion of legal process last month, the Balochistan government and the company agreed on a timetable for the disbursement of the committed funds to the province. Reko Diq Pakistan Country Manager Ali E Rind handed over the $3 million cheque to Secretary Mines and Minerals Development Department Balochistan, Saidal Khan Luni. Barrick said that the new Reko Diq agreement ensures…

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The government has prepared a plan to impose multiple surcharges of over Rs 4/kWh on consumers across the country including those of the KE and conversion of Power Holding Limited’s (PHL) debt of Rs 800 billion to public debt, sources close to Finance Minister told Business Recorder. Sharing the details, sources said PHL outstanding debt stock as of June 2020 was Rs 1.004trillion. ECC of the Cabinet on May 6, 2022 approved the conversion power sector debt stock of Rs 804 billion into public debt. In compliance with the ECC decision…

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Power Division has proposed revision in National Electric Power Regulatory Authority (Nepra) FCA decision/ notification by way of policy guidelines to recover the pending amount of Rs52 billion from electricity consumers and Rs 10.34 billion as an additional supplementary grant to cover waiver of electricity bills. Power Division in its summary to the ECC has explained that Fuel Charges Adjustments (FCA) are determined by Nepra as per section 31(7) of the Nepra Act on monthly basis. As per the existing tariff methodology, Power Purchase Price billed to consumers is subject…

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Sindh Labour and Huaman Resources Minister Saeed Ghani has warned that power consumers would show a violent reaction in Karachi if entire localities were deprived of electricity for a prolonged period of time on account of non-payment of power bills. He issued the warning on Tuesday while chairing a meeting along with Karachi Commissioner Muhammad Iqbal Memon on Tuesday to sort out the electricity outage and water shortage issues in areas in his constituency PS-104 in District East. The meeting was attended by senior K-Electric officials and newly elected local…

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