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LESCO has raised the rates for new electricity connections to Rs63,450.

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8 months ago

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The LESCO administration has issued a statement stating that the demand notice charge for a three-phase meter has increased from Rs33,500 to Rs63,450.

The notification states that the increased costs will be implemented starting from July 1.

Procedure for applying for a new connection with LESCO

  1. To initiate the application procedure, please access the provided link (http://www.enc.com.pk/).
  2. When submitting a form, you must provide the following information:

Select one connection type from the following options: Domestic, Commercial, Industrial, Agriculture, Tubewell, Temporary, General Services, Residential Colonies, Street Light.

  1. Additionally, you will need to provide property information for the location where you intend to build the new energy connection.
  2. Once you have completed and uploaded all the necessary information and documents, proceed to submit the application form.
  3. Require a hard copy of the application form you have submitted.

Please ensure that all stated documents are attached to this application.

Further information: LESCO officials have ceased their strike following the guarantee from the FIA that there will be no raids related to overbilling.

  1. Forward or deliver this entire file (comprising of the application form and necessary papers) to the appropriate office.
  2. The LESCO demand notice will be issued once the provided documents and information have been verified.
  3. The next step is to make payment for the LESCO demand notice at the designated bank.
  4. Once the demand notice has been paid, a copy should be provided to the relevant authority for further processing.
  5. In this final stage, the relevant office will verify the payment made in response to the demand notice. Once the verification is complete, they will proceed to install the connection.

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Business

The total amount of Pakistan’s liquid foreign reserves is $15.95 billion.

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3 days ago

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As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.

Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.

Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.

The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.

Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.

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In January 2025, RDA inflows reach 9.564 billion USD.

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2 weeks ago

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Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

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Business

FBR lowers Karachi’s built-up structure property valuation rates

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2 weeks ago

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A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.

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