Category: Shortcode

The K-Electric has sought the National Electric Power Regulatory Authority (Nepra) nod for refunding Rs10.262 per unit to electricity consumers on account of fuel charges adjustment (FCA) for December 2022. If allowed by NEPRA, the reduction will provide a relief of Rs12.08 billion to KE’s consumers which they will get in the electricity bills of February 2023. In its petition submitted to NEPRA, the KE has requested the regulator permission for the refund of the amount it had overcharged during the month of December 2022. NEPRA would hold a public…

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The consumers of K-Electric are set to get a tariff relief of over Rs10 per unit on account of fuel cost adjustment for December 2022. K-Electric has filed a petition requesting the National Electric Power Regulatory Authority (Nepra) to approve a reduction of Rs10.26 per unit in consumer bills under fuel cost adjustment for December. Earlier, Nepra allowed K-Electric to slash power tariff by Rs7.43 per unit for November 2022, which was reflected in the consumer bills of January 2023. Fuel cost adjustment is reviewed every month as per Nepra’s…

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While the European Union’s seaborne imports of Russian crude oil declined by just over 12% last year, Russia still enjoyed status as the top seaborne oil supplier to the bloc, despite sanctions. According to data from maritime sector brokerage firm Banchero Costa, last year saw the EU import 98.8 million tonnes of Russian crude via sea, down from 112.5 million tonnes in 2021 and 128.5 million tonnes in 2019. For 2022, Russia still accounted for 21.9% of European seaborne imports of Russian crude, followed by the North Sea, which accounted…

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At least half a dozen members of Karachi’s business community severely criticised the role of the State Bank of Pakistan (SBP) in the ongoing crisis with regards to difficulty in opening letters of credit (LCs). “At least tell the banks to open LCs for wheat and pulses so that people have something to eat,” one businessman pleaded to Jameel Ahmad, the SBP governor who paid a visit to the Karachi Chamber of Commerce and Industry on Wednesday. Earlier in the day, the SBP governor had also visited the Federation of…

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Speaking during the question hour, Minister of State for Petroleum Musadik Malik told the house that two new policies aimed at overcoming the problem of gas shortage were almost ready and would be unveiled in a couple of weeks. He said one of these was about reopening the closed wellheads while the other was related to exploration of tight gas. He, however, made it clear that the results would start accruing in three to four years due to the time-consuming exploration process. He said it would be unwise to give…

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