Latest news with #075
Business Recorder
7 hours ago
- Business
- Business Recorder
Domestic consumers: Pakistan govt hikes gas fixed charges
ISLAMABAD: Federal government has approved increase in the fixed charges for domestic gas consumers of both gas companies (SNGPL/ SSGC) by Rs150 (protected) and Rs400 (non-protected) effective from July 1, 2025. With an average 10 percent tariff hike will applicable to the power sector, bulk consumers, and general industry (process). The Economic Coordination Committee (ECC), on Friday, approved the summary submitted by the Petroleum Division, seeking approval for a revised natural gas pricing structure for the fiscal year 2025–26. The ECC considered the proposed adjustments in energy sector tariffs and decided to maintain gas prices to protect household consumers with only fixed charges re-adjusted in domestic sector to recover the asset costs. It also allowed price of gas for bulk consumers, power plants operating on natural gas and industry to be increased by an average value of around 10 percent. SNGPL, SSGC: Weighted average price of imported RLNG cut slightly The committee approved a raise in gas tariff to bulk consumers from Rs2,900 per mmbtu to Rs3,075 per mmbtu. For power sector tariff has revised from Rs1,050 per mmbtu to Rs1,313 per mmbtu. For general industry (process) tariff was revised from Rs2,150 to Rs2,350 per mmbtu. The minimum bill for protected and non-protected consumer will be calculated at the first tariff slab of each category. Power tariff would also be stand revised for PPL's gas supply to Guddu, and Mari Energies' gas supply to Foundation Power. According to the summary submitted for consideration of ECC, it argues that only room to revise prices is available in the domestic sector slabs, wherein, a huge cross-subsidy is involved which is estimated at Rs168 billion per annum at current prices. Government is already engaged with IMF under the resilience sustainability facility to replace cross-subsidies with direct or budgeted subsides in commensuration with income levels of the domestic consumers under the BISP. As per the reform measure, the framework for replacing the cross-subsidy would be developed by June 2026 following the model being pursued by Power Division which is expected to be rolled out in 2027. Petroleum Division worked out option whereby revision in the gas tariff, as well as, fixed charge has been proposed; however, in order to lower the impact of price revision in domestic sector, the revision in bulk domestic, industry (process) and power sector, which is unchanged since February 2023, has also been approved. The revisions in gas tariff are estimated to meet Rs41 billion revenue deficit of SNGPL and it would also generate Rs31 billion surplus for SSGC which would be utilised to meet prior revenue shortfall of SSGC which are around Rs565 billion. Copyright Business Recorder, 2025
Business Recorder
12 hours ago
- Business
- Business Recorder
Domestic consumers: Govt hikes gas fixed charges
ISLAMABAD: Federal government has approved increase in the fixed charges for domestic gas consumers of both gas companies (SNGPL/ SSGC) by Rs150 (protected) and Rs400 (non-protected) effective from July 1, 2025. With an average 10 percent tariff hike will applicable to the power sector, bulk consumers, and general industry (process). The Economic Coordination Committee (ECC), on Friday, approved the summary submitted by the Petroleum Division, seeking approval for a revised natural gas pricing structure for the fiscal year 2025–26. The ECC considered the proposed adjustments in energy sector tariffs and decided to maintain gas prices to protect household consumers with only fixed charges re-adjusted in domestic sector to recover the asset costs. It also allowed price of gas for bulk consumers, power plants operating on natural gas and industry to be increased by an average value of around 10 percent. SNGPL, SSGC: Weighted average price of imported RLNG cut slightly The committee approved a raise in gas tariff to bulk consumers from Rs2,900 per mmbtu to Rs3,075 per mmbtu. For power sector tariff has revised from Rs1,050 per mmbtu to Rs1,313 per mmbtu. For general industry (process) tariff was revised from Rs2,150 to Rs2,350 per mmbtu. The minimum bill for protected and non-protected consumer will be calculated at the first tariff slab of each category. Power tariff would also be stand revised for PPL's gas supply to Guddu, and Mari Energies' gas supply to Foundation Power. According to the summary submitted for consideration of ECC, it argues that only room to revise prices is available in the domestic sector slabs, wherein, a huge cross-subsidy is involved which is estimated at Rs168 billion per annum at current prices. Government is already engaged with IMF under the resilience sustainability facility to replace cross-subsidies with direct or budgeted subsides in commensuration with income levels of the domestic consumers under the BISP. As per the reform measure, the framework for replacing the cross-subsidy would be developed by June 2026 following the model being pursued by Power Division which is expected to be rolled out in 2027. Petroleum Division worked out option whereby revision in the gas tariff, as well as, fixed charge has been proposed; however, in order to lower the impact of price revision in domestic sector, the revision in bulk domestic, industry (process) and power sector, which is unchanged since February 2023, has also been approved. The revisions in gas tariff are estimated to meet Rs41 billion revenue deficit of SNGPL and it would also generate Rs31 billion surplus for SSGC which would be utilised to meet prior revenue shortfall of SSGC which are around Rs565 billion. Copyright Business Recorder, 2025
The Star
4 days ago
- The Star
Court dismisses former Brunei narcotics officer's appeal against jail term
BANDAR SERI BEGAWAN: The Court of Appeal has dismissed an appeal by a former Assistant Narcotics Officer against his three-year jail sentence for criminal breach of trust by a public servant. Mohd Asmawi Zulkifli was convicted by the Intermediate Court on 29 April 2024, following a trial, for misappropriating exhibits under his custody during a drug-related investigation in 2016. The exhibits — BND1,075 in cash and a mobile phone — had been entrusted to him for safekeeping in the Narcotics Control Bureau's strong room at its Tutong branch. Instead, he misappropriated the items. The Intermediate Court sentenced the applicant to three years' imprisonment, ruling that the return of the misappropriated items carried little mitigating weight, as the breach had compromised the integrity of the investigation. The court also found no sufficient medical basis to warrant judicial mercy. In his application before the Court of Appeal, the applicant sought leave to appeal against the sentence out of time, primarily citing deteriorating health following brain surgery, as well as the hardship faced by his dependent family. He also raised concerns for his personal safety in prison, alleging that he had received verbal threats from other inmates. The appellate court, comprising Chief Justice Datuk Seri Paduka Steven Chong, Justices Michael Lunn, and Sir Peter Gross, found no merit in the argument that the sentence was manifestly excessive. The court acknowledged the seriousness of the applicant's medical condition but noted it was manageable within the prison system. It also confirmed that prison authorities had implemented precautionary measures, including placing the applicant in a single-occupancy cell for his safety. The court reiterated the established principle that a serious medical condition does not, on its own, justify a reduced sentence unless exceptional circumstances are present. In this case, it agreed with the Intermediate Court's assessment that the threshold for judicial mercy had not been met. Finding no arguable case for the appeal, the Court of Appeal refused the application. The respondent was represented by Deputy Public Prosecutor Pengiran Nor 'Azmeena Pengiran Mohiddin, while the applicant represented himself. - Borneo Bulletin/ANN
Hans India
23-04-2025
- Automotive
- Hans India
Jefferies revises down ratings on Hero MotoCorp, Bajaj Auto
New Delhi: Global brokerage firm Jefferies on Tuesday downgraded Hero MotoCorp and Bajaj Auto, citing a weak outlook for the two-wheeler industry in the coming Hero MotoCorp has been downgraded to 'underperform', Bajaj Auto has been rated as 'hold'. Jefferies has also slashed the price targets of Hero and Bajaj Auto by a large margin. The price target for Hero MotoCorp has been cut by 37 per cent to Rs3,200 from the earlier Rs5,075. For Bajaj Auto, the target has been reduced by 28 per cent to Rs7,500 from Rs10,550. Jefferies believes the overall volume growth in the two-wheeler industry for FY26 and FY27 will be slower than expected, reducing its growth estimates by six and two percentage points, respectively. Still, it expects a 10 per cent annual growth rate for the sector between FY25 and FY28, as it highlighted that the competitive dynamics in the two-wheeler industry have shifted. Jefferies cut earnings estimates for Hero and Bajaj Auto by 11 per cent and 5 per cent, respectively, as Hero MotoCorp's market share in the domestic market has fallen to a 20-year low.
