Author: Admin

Cabinet Panel Approves Winding Up of ENAR Petrotech Services

Admin
Cabinet-Panel

ISLAMABAD – The Cabinet Committee on State-Owned Enterprises has approved the winding up of ENAR Petrotech Services Limited (ESPL). The committee, chaired by Federal Minister for Finance & Revenue Muhammad Aurangzeb, also decided on restructuring and preparing two power distribution companies, Tesco and Qesco, for privatization. During a meeting at the Finance Division on Thursday, the committee reviewed summaries from various ministries and divisions regarding the categorization of their state-owned enterprises (SOEs) as strategic or essential. The committee approved the summaries from the Power Division, Ministry of Industries & Production,…

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Leghari Concedes High Power Tariff in Senate, Promises Reforms

Admin
Awais-Leghari

ISLAMABAD – Energy Minister Awais Leghari acknowledged in the Senate on Thursday that electricity prices are currently high but assured that through reforms, the government aims to provide cheaper electricity to consumers within the next 18 months. During the question-answer session, Minister Leghari addressed circulating news about a federal cabinet decision to increase electricity rates. He clarified that the regulator sets the average price for the entire year every June. “Given the average hike rates last June, the cabinet, with Prime Minister Shehbaz Sharif’s directive, decided not to place the…

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New Electricity Tariffs: How Much Will Your Bill Increase?

Admin
Your-Bill

ISLAMABAD – The Power Division has announced the implementation of new electricity tariffs starting from July 2024. Most consumers will see a slight increase in their monthly bills due to the updated tariffs, with the government providing a substantial subsidy of Rs440 billion to mitigate the impact. In a statement, the Power Division detailed that for the 16.8 million (58%) poorer domestic consumers, the increase will be less than 2%. In contrast, the relatively wealthier 42% of consumers will see an average increase of 9%. Despite the immediate increases, the…

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Petroleum Dealers Split Over Strike Amid Government Maneuvers

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Over-Strike

ISLAMABAD – The ongoing dispute among petroleum dealers has intensified, with factions within the Pakistan Petroleum Dealers Association (PPDA) divided over a nationwide strike. The government has hinted at raising dealer commissions to mitigate the impact of turnover tax, while oil marketing companies (OMCs) are seeking a 60% increase in their profit margins. Strike Call and Division Abdul Sami Khan, Chairman of PPDA, announced that petrol pumps would shut down nationwide from 6am on Friday. However, the PPDA’s Lahore and Rawalpindi chapters, identifying as the Reformers Group, have rejected the…

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Major Power Tariff Hike Looms for Consumers

Admin
electricity-tariffs

ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) has announced a public hearing on July 8 to discuss the proposed increase in electricity tariffs, which could pass an additional Rs700 billion burden onto consumers in the current fiscal year. This increase, set to take effect on July 1, 2024, will see the average national tariff rise by around Rs5.72 per unit, significantly impacting all ex-Wapda distribution companies (Discos) and K-Electric customers. The most affected will be protected consumers, who could face a staggering 51% increase in their electricity rates.…

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