Business

Power consumers to pay Re0.79 per unit more as March FCA

Published

2 years ago

Farwa

The amount will be recovered from power consumers in May.
The adjustment will be shown separately in consumers’ bills.
Charges applicable on all categories except lifeline and EVCS.

ISLAMABAD: Power consumers, who are already overburdened by soaring inflation and high fuel and electricity costs, will now have to pay Re0.79 per unit more in the month of May.

According to a notification issued by the National Electric Power Regulatory Authority (Nepra) Thursday, the additional amount is being levied in lieu of fuel cost adjustment (FCA) charges for March.

The charges would be applicable to all consumer categories except electric vehicle charging stations (EVCS) and lifeline consumers, the notification stated.

“The said adjustment will be shown separately in the consumers’ bills on the basis of units billed to the consumers in the month of March 2023,” it added.

In March, Nepra allowed power distribution companies (Discos) and K-Electric to recover deferred fuel adjustment surcharges up to Rs14.24 per unit from consumers in eight months.

According to the Nepra decision, discos will recover Rs10.34 per unit from domestic protected consumers using 0-200 units per month, Rs14.24 per unit from non-protected consumers using 0-200 units, Rs14.24 per unit from those consuming 201-300 units per month, and Rs9.90 per unit from private agricultural consumers.

The entire amount would be recovered from the electricity consumers in monthly instalments from March to October 2023.

In its decision, the authority also allowed K-Electric to recover the deferred fuel adjustment surcharge from the consumers up to Rs 13.87 per unit.

K-Electric will recover Rs9.97/unit from domestic protected consumers using 0-200 units per month, Rs13.87 per unit from non-protected consumers using 0-200 units, Rs13.87 per unit from those consuming 201-300 units per month, and Rs9.90 per unit from private agricultural consumers. The private lender will also recover the amount from March to October 2023.

Business

FBR begins working on the fiscal year 2025–2026 budget.

Published

13 minutes ago

Farwa

The budget for the next fiscal year 2025–2026 is being prepared by the Federal Board of Revenue (FBR), and stakeholders are being requested to submit their ideas by January 31.

All pertinent parties have received a formal letter from the FBR asking for their comments on the budget for the upcoming fiscal year.

Income tax, sales tax, federal excise duty, and revenue-raising ideas are among the particular proposals that stakeholders are asked to submit. The board is also seeking suggestions for expanding the scope of current taxes and widening the tax base.

Along with proposals pertaining to taxes, the FBR has requested feedback on general sales tax for all companies as well as ideas for phasing away tax exemptions gradually. The FBR has underlined how important it is to simplify tax processes and make rules more understandable for taxpayers.

The American Business Council of Pakistan, DHA Karachi, the Pakistan Small Chambers of Commerce and Cottage Industry, the Pakistan Business Council, the Pakistan Stock Exchange, and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) are among the business and trade associations that have been contacted for their suggestions.

In addition, the FBR has requested ideas from a wide range of organizations, such as the Pakistan Vanaspati Manufacturers Association, the All Pakistan United Retailers Association Karachi, the All Pakistan Bar Association, ICAP, the Pakistan Tax Bar Association, and tax advisory businesses.

Based on these stakeholders’ comments and ideas, the FBR will finalize its recommendations for the next finance bill.

Business

Pakistan’s gold price continues to rise.

Published

19 hours ago

Farwa

As a result of worldwide market trends, the price of gold in Pakistan rose even further on Wednesday.

The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) released data showing that the price of 24-karat gold per tola rose by an additional Rs1,000 in the local market, reaching Rs277,000.

The cost of 10 grammes of 24-karat gold also increased by Rs858, reaching Rs237,483.

On Wednesday, the price of gold increased by an extra $10 on the global market, hitting $2,652 per ounce with a $20 premium.

In the local market, the price of silver stayed steady at Rs3,350 per tola.

Business

Pakistan’s exports increased by 10.52% in the first half of FY 2024-25.

Published

1 day ago

Farwa

Pakistan’s exports had a notable rise of 10.52 percent in the first half of the fiscal year 2024-25, reaching $16.5 billion, up from $14.9 billion during the corresponding time last year.

From July to November, exports rose by 12.5 percent, amounting to $13.6 billion, reflecting the government’s economic policies.

In December 2024, exports amounted to $2.842 billion, reflecting a 0.28 percent rise from November.

The Special Investment Facilitation Council (SIFC) was essential in stabilizing exports and imports.

The prevailing export pattern highlights Pakistan’s dedication to continuous economic advancement.