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Articles for tag: FCA, hike, KElectric, moves, NEPRA, Power, Tariff, unit

July 21, 2024

News Desk

K-Electric moves Nepra for Rs 5.45 per unit power tariff hike under FCA

A view of K-Electric’s headquarters, with solar panels on the parking lot, in Karachi on January 24, 2023. — Reuters KE forecasts Rs 2.53 per unit increase for May, Rs 2.92 for June. Consumers will bear an additional burden of Rs 10 billion. Nepra to hear K-Electric’s plea on July 30. ISLAMABAD: Karachi’s sole power provider K-Electric on Saturday moved the apex energy regulator to approve an increase of Rs 5.45 per unit in electricity tariff under the fuel cost adjustment (FCA) mechanism for May and in June. If approved by the National Electricity Regulatory Authority (Nepra), this hike will

July 11, 2024

News Desk

Nepra imposes hike of up to Rs 7.12 in basic electricity tariff for domestic consumers

A representational image of pylons and power lines. — Reuters/File Consumers of 201-300 units will be charged Rs 34.26 per unit. Nepra hikes per unit by Rs 7.02 for consumers using 301-400 units. The Authority approves the request for the application of a uniform tariff. ISLAMABAD: The National Electricity Regulatory Authority (Nepra) on Thursday approved the federal government’s request for an increase of Rs 7.12 per unit in basic electricity tariffs for domestic consumers who are already suffering from the rising cost of living. The regulator issued the approval decision on the federal government’s application proposing increases in electricity tariffs

July 2, 2024

News Desk

Railways hike freight charges by 3%

LAHORE: Pakistan Railways on Monday announced that it has decided to increase fares by 3% across the board, which will be imposed on all goods traffic from July 3, 2024 onwards. However, it clarified that the 3% increase in fares will not apply to steel wheels, petroleum products, line carriage cost, line management cost, shunting charges, surcharges and destination charges. The fare hike announcement came just a day after the administration released revenue figures for the financial year 2023-24. Railways received revenue of Rs 88 billion in the financial year just ended, reflecting a growth of nearly 40% over revenue

June 26, 2024

News Desk

KE is seeking a power price hike of Rs 10.69/unit

KARACHI: K-Electric (KE) has submitted a request to the government for permission to increase the price of power by Rs 10.69/unit, with a target of raising it to Rs 44.69/unit by the financial year 2023-24. The proposed tariff adjustment is intended to partially offset losses and boost working capital, necessitating an increase in government subsidies to the privatized entity. K-Electric spokesperson Ovais Munshi clarified during a media briefing on the petition submitted to the National Electricity Regulatory Authority (NEPRA) that the proposed tariff is for the company itself and does not affect end-consumer tariffs , which will remain flat at

June 20, 2024

News Desk

Senators slam FBR chief over tax hike on hybrid, electric cars

Senator Salim Mandviwala chairs a meeting of the Senate Standing Committee on Finance in Islamabad on June 20, 2024. — X/@SenatePakistan FBR chairman Asim Ahmad says tax is levied on imported vehicles. 25% sales tax levied on vehicles priced above Rs 15 million, says Vawda. Vawda also raised objections regarding the increase in tax in the property sector. ISLAMABAD: Senators on Thursday slammed Federal Board of Revenue (FBR) Chairman Asim Ahmad for increasing taxes imposed on hybrid and electric cars, among others. The Senate Standing Committee on Finance, in a meeting chaired by Pakistan People’s Party (PPP) Senator Salim Mandviwala,

June 9, 2024

News Desk

Govt mulls hike in oil levy from Rs 60 to Rs 80 per liter

A large number of vehicles stand in a queue to fill their vehicle’s petrol tanks at a petrol pump in Islamabad on May 24, 2022. — Online The government is considering hiking gas duties, imposing another levy on pol products. The Ministry of Finance refuses to allocate a financial grant for the IMF check. The move is aimed at addressing the Rs 2.9 tr circular debt in the gas sector. ISLAMABAD: In its bid to tackle the issue of rising cyclical debt, the federal government is working on practical proposals, including increasing oil levy on petrol (Mogas) and diesel from

May 25, 2024

News Desk

KE is seeking a massive tariff hike of Rs 10.69 per unit over a multi-year period

View of K-Electric headquarters, with solar panels in the parking lot, in Karachi. — Website/ KE Archive KE wants the base tariff to be increased from Rs 34 to Rs 44.63 per unit. The utility supplier aims to set a multi-year tariff from 2023 to 2030. The company cites various cost factors for the price increase. KARACHI: K-Electric (KE) has sought a whopping hike of Rs 10.69 per unit in its base tariff from the National Electricity Regulatory Authority (Nepra), The news reported on Saturday. Citing a seven-year multi-year tariff, KE aims to establish a multi-year tariff from 2023 to

May 24, 2024

News Desk

Khyber Pakhtunkhwa proposes 10% hike in wages and pensions

A representational image of a government official working in his office. – File In a bid to provide relief to government employees amid financial challenges, the Khyber Pakhtunkhwa government on Friday proposed a 10% hike in the salaries of civil servants. Taking over the leadership of the federal government as well as three other provinces, the Prime Minister Ali Amin Gandapur-led government unveiled its maiden budget of over Rs 1.75 trillion for the financial year 2024-25. Presenting the budget in Parliament, KP Finance Minister Aftab Alam announced a 10% increase each in the basic pay of its employees and pensioners.

May 18, 2024

News Desk

NEPRA is mulling another hike despite falling electricity demand

Islamabad: Responding to the significant decline in electricity demand across sectors, the National Electricity Regulatory Authority (NEPRA) is considering sanctioning an additional collection of Rs 51.86 billion from electricity consumers under the third quarterly adjustment of FY24. If approved, this adjustment will bring an additional burden of Rs 1.45 per unit on consumers and is proposed to be implemented in July, August and September. NEPRA officials said this rate hike will also affect K-Electric consumers. Final approval pending thorough review. On Friday, NEPRA held a public hearing on the petition filed by the Central Power Purchase Authority (CPPA) on behalf

April 29, 2024

News Desk

K-Electric is seeking nearly Rs 19 per unit hike for seven months

—Geo.tv/File KARACHI: K-Electric plans to shock consumers as Karachi’s sole power utility has sought permission from the National Electricity Regulatory Authority (Nepra) to charge Rs 18.86 per unit fuel cost adjustment (FCA) from its consumers in the past seven months. According to details, the JV has requested provisional monthly fuel charge revisions for the period from July 2023 to March 2024. In its petition, the power distribution company sought an increase of Rs 18.86 per unit in the FCA for the last seven months and proposed a reduction of Re0.29 for the remainder of the two-month period. If the power

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