Category: Highlights

The National Electric Power Regulatory Authority (Nepra) has allowed an increase of Rs3.75 per unit in power tariff for residents of Karachi (K-Electric consumers), stated a notification issued by the authority on Tuesday. According to the authority, the increase in electricity prices is in line with the September monthly fuel adjustment. The increase will not apply to lifeline users. The adjustments will be collected in December bills, the notification added. “While effecting the Fuel Adjustment Charges, K-Electric shall keep in view and strictly comply with the orders of the courts…

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Retailers are continuing to put up fuel prices when they should reduce them in line with savings in wholesale oil prices, the RAC motoring services organisation has claimed. In response to concerns about the Omicron variant, oil prices fell by around $10 a barrel last week. But this reduced wholesale fuel price has not been reflected at the pumps. Retailers added on average another 3.1p to a litre of unleaded petrol and 2.7p to diesel in November. The RAC said this hike in petrol prices was “completely unjustified”, with larger…

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Chinese buyers of liquefied natural gas (LNG) are pulling back on spot purchases of the super-chilled fuel as prices remain high and inventories are ample, several trade sources told Reuters. Close to record high freight rates are also crimping demand in the world’s top LNG buyer, resulting in only minor interest from Chinese buyers in the spot market for January cargoes in recent days, sources said. LNG shipments to China in November slipped by about 2% from the previous month to the lowest monthly volume since February, shiptracking data from…

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The country’s energy sector circular debt has increased by 120 percent to Rs 2.419 trillion on October 31, 2021 as compared to Rs 1.100 trillion when Prime Minister Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) took over the government in August 2018 despite over 50 increase in base tariff, including Rs 3.34 per unit this year, due to inefficiencies, well-informed sources told Business Recorder. Another average increase of Rs 0.63 per unit in base tariff is in the offing on the basis of tariff petitions filed by the Distribution Companies (Discos). Nepra has…

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The government has released second installment of Rs135 billion to 20 Independent Power Producers (IPPs) against their total outstanding receivables for selling electricity to Central Power Purchasing Agency (CPPA), it said on Tuesday. The released amount is 60 percent of total outstanding receivables as the government had paid 40 percent in first installment in June this year, thus repaying IPPs dues, accumulated till November 2020, in full. The repayment of IPPs receivables is part of the government’s drive to reduce circular debt in the power sector as agreed with International…

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