Nepra Imposes Fixed Monthly Charges on Domestic Consumers Starting July 1

ISLAMABAD: Starting July 1, 2024, the National Electric Power Regulatory Authority (Nepra) will implement a new electricity tariff structure, introducing fixed monthly charges ranging from Rs200 to Rs1,000 for domestic consumers. This adjustment, aimed at bolstering DISCOs’ revenue, will affect five residential consumer categories based on monthly unit consumption. Domestic consumers using 301-400 units per month will incur a fixed…

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Government Sacks DISCO Boards Amid Massive Losses; Seaports Declared Strategic Assets

power-subsidy

ISLAMABAD: The government has once again sacked the boards of nine power distribution companies (DISCOs) in light of their significant fiscal losses, amounting to Rs589 billion this year. This marks the second time within a month that the Cabinet Committee on State-Owned Enterprises (CCoSOEs) has taken this action, following previous decisions thwarted by political pressure. Additionally, the government has designated…

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Power Production Sees First Increase in 7 Months; Fuel Costs Drop

Power-Project

KARACHI: In May 2024, Pakistan’s power sector recorded its first increase in electricity production in seven months, rising by 3% year-on-year to 12,617 gigawatt hours (GWh). This growth was accompanied by a notable 10% reduction in fuel costs, largely due to a surge in hydel generation, which has zero fuel cost. Despite the reduction in fuel costs, electricity distribution companies…

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PBC Raises Concerns Over Budget Proposals

PBC-Budget

KARACHI: The Pakistan Business Council (PBC) has expressed serious concerns over certain budget proposals, fearing they will negatively impact the formal, tax-paying sector of the economy. The PBC criticized the government’s focus on significantly increasing the tax-to-GDP ratio without a corresponding reduction in government expenditure, arguing that it places an unfair burden on existing taxpayers. In a statement released on…

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Sindh allocates Rs 25 billion to utilize solar energy to electrify off-grid villages as per Bilawal campaign promise

Sindh-Energy

Karachi The Sindh government, in its newly presented budget for the upcoming financial year 2024-25, has allocated a total of Rs 25 billion to fulfil one of the important election campaign promises of PPP Chairman Bilawal Bhutto Zardari. The promise is to provide free electricity to underprivileged power consumers in the country after coming into power. Sindh’s top authorities have…

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PM Directs Power Division to Develop Comprehensive Solution for KE Payment Settlement; NEPRA Announces Tariff Hearings

power-subsidy

ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the Power Division to formulate a comprehensive solution for resolving the longstanding receivables and payments between K-Electric (KE) and various government entities and departments. This directive came during a recent meeting addressing multiple power sector issues, sources told Business Recorder. The Power Division will work closely with the Cabinet Division and NEPRA to…

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Air Pollution Causes Nearly 2,000 Child Deaths Daily

Air-pollution

PARIS: A staggering 2,000 children die each day due to health issues linked to air pollution, which has now become the second leading risk factor for early death globally, according to a recent report from the US-based Health Effects Institute. In 2021, air pollution contributed to 8.1 million deaths, approximately 12% of all fatalities, surpassing tobacco use and poor diet…

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CETC-RedSolar Showcases Pioneering Solar Innovations at InterSolar Europe 2024

solar-energy

We are excited to announce our participation in InterSolar Europe 2024, taking place in Munich, Germany. As a leading innovator in the solar energy sector, RedSolar is poised to make a significant impact at this premier event. Our dedicated team has been working tirelessly to bring you the latest advancements in solar technology, and we are eager to showcase our…

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Growatt Showcases Extensive Product Portfolio and Receives EUPD Research Top PV Brand Awards at SNEC PV Expo 2024

Growatt-Showcases

Growatt, a global leading provider of distributed energy solutions, successfully concluded its exhibition at the SNEC PV Expo, held from June 13th to 15th in Shanghai, China. The event highlighted Growatt’s receipt of the Top Brand PV 2024 awards in the inverter and energy storage sectors from EUPD Research and showcased an extensive range of solutions for residential, commercial, off-grid,…

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FEDERAL BUDGET ANOMALIESGovt urged to revisit numerous budgetary measures

KCCI-Import

KARACHI: The Karachi Chamber of Commerce & Industry (KCCI), while identifying several anomalies in the Federal Budget 2024, highlighted that the Budget appears to have been prepared in the standard template of IMF, disappointing both the business community and working classes of Pakistan. Obviously, the limited fiscal space and debt obligations left little room for the Finance Ministry and FBR…

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