Day: June 15, 2024

FEDERAL BUDGET ANOMALIESGovt urged to revisit numerous budgetary measures

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KCCI-Import

KARACHI: The Karachi Chamber of Commerce & Industry (KCCI), while identifying several anomalies in the Federal Budget 2024, highlighted that the Budget appears to have been prepared in the standard template of IMF, disappointing both the business community and working classes of Pakistan. Obviously, the limited fiscal space and debt obligations left little room for the Finance Ministry and FBR to come up with significant relief for trade and industry in particular and public in general.It is of deep concern for trade and industry based in Karachi that a major…

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Murad Ali Shah Chairs Meeting Between STDC and Gul Ahmed Group

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New-Project

Karachi– Sindh Chief Minister Syed Murad Ali Shah chaired a crucial meeting between Sindh Transmission and Dispatch Company (STDC) and the private partner Gul Ahmed Group. Gul Ahmed is setting up a 100 MW power plant in Jhimpir. STDC will lay a 60-kilometer transmission line from Jhimpir to the Landhi Industrial Area. Provincial Energy Minister Nasir Shah emphasized the significance of this public-private partnership, stating, “This will revolutionize industrial development by delivering electricity from Jhimpir to the industrial area.” The Chief Minister reflected on the formation of STDC, noting that…

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NEPRA Rejects Discos’ Proposal on Detection Bills Period

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Nepra-Act

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has dismissed a proposal from electricity distribution companies (Discos) to extend the period for issuing detection bills under the Consumer Service Manual (CSM). NEPRA decided to retain the current two billing cycle limit for supplementary bills in cases of slow or defective metering installations. Gujranwala Electric Power Company (GEPCO) had filed a petition with the Supreme Court of Pakistan challenging a November 2019 Lahore High Court judgment regarding detection bills for slow metering. The Supreme Court, expressing concern over irregular billing practices,…

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PM Approves Rs10.69 Tariff Cut for Industrial Sector

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Power-firms

ISLAMABAD: In a significant move to boost local production and exports, Prime Minister Shehbaz Sharif on Friday approved a substantial reduction of Rs10.69 per unit in the electricity tariff for the industrial sector. This decision lowers the new electricity price for industrial and export sectors to Rs34.99 per unit, following a recommendation by the National Electric Power Regulatory Authority (NEPRA). “The Prime Minister’s package, which is expected to provide over Rs200 billion in relief to the industry, will help reduce the manufacturing costs of goods, making them more competitive in…

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NEPRA Hikes National Power Tariff by 20%

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Nepra-tariff

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Friday announced a 20% increase in the national power tariff, aimed at securing approximately Rs3.8 trillion in funding for the 10 ex-WAPDA electricity distribution companies (Discos) for the fiscal year 2024-25. The new tariff, which will come into effect from July 1 after a formal government notification, raises the national average base tariff to Rs35.50 per unit (kilowatt-hour, or kWh) from the current Rs27.78 per unit. This increase is expected to generate an additional Rs485 billion in revenue for the Discos,…

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