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The cost of electricity has gone up by Rs 7.5 per unit.

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10 months ago

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The power sector’s regulatory body has allowed an increase in the electricity price of Rs7.5 per kilowatt hour (kWh) under the heading FCA of January 2024, according to a statement from NEPRA. Power users will be responsible for paying this increase in power tariff in March 2024.

All customer groups will be affected by the increase, with the exception of K-Electric’s lifeline and power consumers (KE). The already beleaguered power users would bear an extra burden of Rs66 billion due to the increase in electricity tariffs.

The Central Power Purchasing Agency (CPPA) asked the National Electric Power Regulatory Authority (Nepra) to increase the electricity pricing by Rs 7.13/unit due to FPA, which led to earlier reports that the power price will increase.

The CPPA filed the petition with the NEPRA, claiming that hydropower plants accounted for 11.12% of all electricity output in January, coal-fired plants for 16.51%, natural gas plants for 12.45%, and nuclear plants for 20.78%.

Prior to this, the monthly fuel adjustment (MFA) caused the National Electric Power Regulatory Authority (NEPRA) to raise the power cost by Rs5.63 per unit.

Following the conclusion of the NEPRA hearing on the Central Power Purchasing Agency’s (CPPA) appeal for a fuel monthly adjustment that will increase the power rate by Rs5.63 per unit for December 2023, the verdict was made public.

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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5 days ago

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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5 days ago

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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5 days ago

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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