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The departing caretaker government gives NEPRA and OGRA the authority to announce tariffs.

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10 months ago

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The NEPRA and OGRA were given the authority to announce tariffs at the eleventh hour by the departing caretaker administration.

Reportedly, the caretaker administration changed the regulation to remove the government’s involvement in tariff announcements and made this significant decision over rising gas and electricity rates.

According to the sources, the federal cabinet has authorised changes to the OGRA and NEPRA regulations, allowing them to publish tariff alerts independently.

According to reports, the caretaker federal cabinet has adopted steps that would allow Nepra to notify consumers about gas and electricity rates.

According to the sources, the modifications will establish appellate tribunals for public complaints.

The already suffering customers were further burdened by the National Electric Power Regulatory Authority’s (NEPRA) announcement earlier on Tuesday of yet another hike in power costs.

As part of the fuel price adjustment (FCA) for January 2024, an increase in power prices of Rs 7.5 per unit has been authorised. The higher cost would be seen in consumers’ bills in March 2024.

Approved under the FCA, this hike affects all consumer groups with the exception of K-Electric (KE) and lifeline users. According to estimates, customers who are already struggling with high expenditures would bear an extra burden of Rs66 billion as a result of this raise.

Previous reports suggested that tariffs may increase, as the Central Power Purchasing Agency (CPPA) requested that NEPRA boost prices by Rs7.13 per unit due to FPA

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

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6 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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6 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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6 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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