Category: Shortcode

Wapda’s hydro tariff increased by 29pc

Admin
KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday approved about 29 per cent increase in average generation tariff for Wapda’s hydroelectric stations to meet its Rs155 billion annual revenue requirement. Under the decision, the average generation tariff for FY23 has been allowed at Rs4.96 per unit when compared to Rs3.85 per unit in FY22. The Rs1.11 per unit increase in generation tariff would, however, not jack up the average distribution tariff for end-consumers with the same proportion but translate into a nominal additional cost of the entire electricity…

Read More

Crackdown ‘bridges’ forex market gap

Admin
open-market

• Interbank, kerb rates edge closer to IMF’s 1.25pc target• SBP introduces structural reforms for exchange firms, raises minimum capital requirement to Rs500m from Rs200m• Orders banks to set up separate entities to conduct forex transactions KARACHI: The rupee rebounded in the open market on Wednesday as a crackdown on the informal currency market started to help the gap between the interbank and open-market rates edge closer to the International Monetary Fund’s (IMF) target of 1.25 per cent. Meanwhile, the State Bank of Pakistan has also stepped up supervision of…

Read More

ECC raises margins for fuel dealers, marketing firms

Admin
Petrol-prices

• Consumers to pay Rs3.51 per litre more on petrol, diesel• PIA’s request for bailout package, suspension of payments to CAA and FBR denied ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved per-litre hikes of Rs1.64 and Rs1.87 in margins to petroleum dealers and oil marketing companies (OMCs), respectively, on petrol and diesel sales and allowed Rs40 billion supplementary grants to armed forces. However, the committee did not immediately clear a bailout package to PIA, nor did it allow the suspension of its tax and service…

Read More

Pakistani origin Ahmed Larik selected among top 100 Saudi Technology Leaders

Admin
Ahmed-Ali

Pakistani Origin IT Wizard Ahmed Ali Larik has been selected among the Top 100 Saudi visionary leaders by the prestigious platform DT100 for his extraordinary contribution in the transformation of the digital banking landscape. He is the only Pakistani who receive this recognition this year. Ahmed Ali Larik became limelight as an accomplished visionary professional who was a leading force behind digital banking & fintech. He has a key role for technological development in EMKAN Finance, a subsidiary of Alrahji Bank which is one of the biggest Islamic Banks in…

Read More

State Bank of Pakistan has decided to introduce structural reforms in the Exchange Companies’ sector.

Admin
state-bank

Leading banks actively engaged in foreign exchange business will establish wholly owned Exchange Companies Aim is to cater to the legitimate foreign exchange needs of general public. Exchange Companies and their franchisees will be consolidated and transformed into a single category of Exchange Companies In addition, the minimum capital requirement for Exchange Companies has been increased from Rs 200 million to Rs 500 million. The Exchange Companies reforms

Read More