Category: Shortcode

Gas consumers to pay Rs5b more

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ECC decides to recover local, imported gas price difference from urban consumers ISLAMABAD: Days after burdening gas consumers with an additional Rs400 billion cost, the government on Thursday decided to recover Rs5 billion per month more from them on account of imported gas supply to fertiliser plants at lower rates after the finance ministry refused to provide funds. The Economic Coordination Committee (ECC) decided that two fertiliser plants would continue to pay the price of Rs1,229 per million British thermal units (mmBtu) as against the imported gas rate of Rs3,625.…

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Rs1.52 per unit surcharge imposed on KE consumers for 12 months

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free-power

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday gave in to a demand of the Power Division to impose for 12 months an additional special surcharge at a flat rate of Rs1.52 per unit on all K-Electric consumers, except lifeline category with less than 100 units per month on a permanent basis. The additional surcharge will come into force from Dec 1 for up to November 2024 and provide a Rs24.5 billion financial cushion to the federal government which claimed to have extended Rs416bn subsidy to KE during the past…

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Govt may hike gas prices by another 10-15pc to slash circular debt

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gas-supply

ISLAMABAD: Knowing the fact that this time the government will collect revenue of Rs980 billion in the ongoing FY24 on account of the massive hike in gas prices by up to 193 percent, the IMF has still asked the government to further increase the sale price of natural gas from January 1, 2024 to slash the circular debt that currently stands at Rs1,250 billion. “The authorities are contemplating an increase in the natural gas sale price by 10-15 per cent, which will yield Rs100 billion additional revenue. It is to…

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Pakistan eyes BRICS membership, seeks Russia’s help

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crude

ISLAMABAD: Pakistan has applied for BRICS membership and sought Russia’s support, the country’s envoy to Moscow Muhammad Khalid Jamali has said. There has been no comment from the Foreign Office without whose approval Jamali (who is yet to present his credentials) would not have made this revelation. According to media reports, Jamali was talking to the Russian news agency TASS in which he revealed that Pakistan had filed an application to join the BRICS and was counting on Russia’s assistance. Jamali said Pakistan had already applied for membership of the…

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Economist terms energy sector ‘black hole’

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power-sector

ISLAMABAD: Dr Hafeez Pasha, former finance minister, Wednesday, while identifying key areas which undermine human security in Pakistan has said that the black hole in Pakistan’s economy is the energy sector, due to unbelievable levels of line losses and rising energy prices. He said this while speaking at the launch of his report titled, “Human Security in Pakistan” on the second day of the 26th Sustainable Development Conference (SDC) organised by the Sustainable Development Policy Institute (SDPI). Dr Pasha said that security must be analysed keeping in view of the…

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