The federal government is likely to establish a high-level committee to find a political solution for the electricity rates, water usage charges (WUC), and control of grid stations in Azad Jammu & Kashmir (AJK). This decision comes after public sector stakeholders failed to reach an amicable solution, informed sources told Business Recorder. A meeting was held on May 22, 2024,…
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The National Electric Power Regulatory Authority (Nepra) has approved an additional financial burden of Rs46.613 billion on consumers of distribution companies (Discos) and K-Electric (KE) under the Quarterly Tariff Adjustment (QTA) for the third quarter (January-March) of the current fiscal year. Of the total approved adjustment, Rs28.515 billion is attributed to capacity charges. An additional Rs10.284 billion will be recovered…
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Chairman of the National Electric Power Regulatory Authority (Nepra), Waseem Mukhtar, has expressed support for over Rs60 billion in write-offs for K-Electric (KE). During a meeting at the Special Investment Facilitation Council (SIFC) aimed at resolving KE’s longstanding issues, Mukhtar noted that losses for government-owned distribution companies (Discos) are typically absorbed into the circular debt or recovered through consumer surcharges.…
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Pakistan and Kuwait have signed a $25 million loan agreement aimed at funding the Mohmand Dam during the 5th session of the Pakistan-Kuwait Joint Ministerial Commission (JMC) in Kuwait, held from May 28 to May 30, 2024. The formal signing of the loan agreement will take place on June 3. This session marked significant progress in strengthening bilateral ties, with…
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In a significant policy shift, the government has proposed a record Rs1.22 trillion for the federal Public Sector Development Programme (PSDP) for the next budget, with a substantial 59% allocation for infrastructure projects. This proposal marks a 64% increase from this year’s downward revised PSDP and a 30% rise from the original budget of the current fiscal year. The Annual…
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The federal government on Friday reduced the petrol price by Rs4.74, taking the new rate to Rs268.36 per litre and The price of high-speed diesel (HSD) has also been slashed by Rs3.86 per litre to Rs270.22. According to the notification, the petrol price has been reduced by Rs. 15.40 per litre, while the price of high-speed diesel (HSD) has been slashed…
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KARACHI (May 31): Sindh Energy Minister Syed Nasir Hussain Shah has said that 172 public sector buildings will initially be provided with 47 MW of electricity through solarization in three different phases. He expressed these views today at the Energy Department during a meeting with a delegation of the World Bank’s technical mission. The World Bank mission was led by…
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