Category: Shortcode

No short-term solution to fix circular debt issue, says caretaker minister

Admin
Energy-Minister-1

KARACHI: Minister for Energy, Power and Petroleum Muhammad Ali has said there are no short-term solutions to the issue of the circular debt. Speaking at the 20th Annual Excellence Awards organised by the CFA Society Pakistan on Friday evening, Mr Ali said a roadmap to address the issues in the energy sector, including the circular debt, will be developed by November 2023. “The resolution of the circular debt in the gas sector is expected sooner,” he said, adding that the energy sector’s challenges have the spillover effect on other segments…

Read More

K-Electric has its way after tribunal rules against Nepra

Admin
circular-debt-K-electric-ceo

ISLAMABAD: In a rare development, the National Electric Power Regulatory Authority (Nepra) had to surrender to a legal stance of K-Electric that it had rejected twice in the past involving over Rs1.44 billion financial cost to be charged to KE consumers at the rate of about 33 paise per unit. Nepra had acceded to the KE’s position following speaking orders of an appellant tribunal (AT) led by retired Justice Mujahid Mustaqeem Ahmed against the regulator’s earlier judgements of September 2021 and May 2022. This is perhaps the first publicly known…

Read More

Gas tariff for fertiliser plants to be raised from Oct

Admin
Gas-tariff

ISLAMABAD: In a bid to meet the International Monetary Fund’s (IMF) key demand of ending circular debt, the government has decided to increase the gas tariff for fertiliser plants from this month, sources told Geo News. Officials, who spoke to Geo News on the condition of anonymity, shared that the ministries of finance, petroleum, and industries have started working on increasing gas prices for fertiliser manufacturers. As per the decision, the factories will be supplied gas at the rate of Rs580 per MMBtu compared to the Rs302 per MMBtu they…

Read More

Power tariff for Karachi up by Rs4.45/unit

Admin
k-electric.

KARACHI: Electricity tariff for Karachi has been increased by Rs4.45 per unit. After Nepra’s decision, the Power Division issued an official notification. According to the notification, the increase was made in the first quarter adjustment of the previous financial year. Additional collections from K Electric customers will be made in October and November 2023, the notification said. Meanwhile, the National Electric Power Regulatory Authority (Nepra), in response to a request by K-Electric, has approved the inclusion of actual or prudent expenses related to the temporary operation of Unit-3 of Bin…

Read More

Discos allowed to extract Rs26.5bn more

Admin
Nepra-Act

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday notified an additional fuel cost adjustment (FCA) of Rs1.71 per unit for consumers of ex-Wapda distribution companies (Discos) with a net financial impact of Rs26.5 billion for electricity consumed in August. The “adjustment of Rs1.7141/kWh shall apply to all the consumer categories except Electric Vehicle Charging Stations (EVCS) and lifeline consumers. The said adjustment shall be shown separately in the consumers’ bills based on units consumed in August. Discos shall reflect the fuel charges adjustment in respect of July in…

Read More