Latest news with #Rs97
Express Tribune
4 days ago
- Business
- Express Tribune
KE base tariff raised by Rs6.15 per unit
Prior approval to NEPRA K-electric consumer may seen a huge relief over electricity bills. PHOTO: FILE In a bold assertion of its regulatory autonomy, Pakistan's power watchdog has notified K-Electric's long-delayed multi-year tariffs for supply, distribution, and transmission through 2030 — despite an unresolved review motion by the federal government. The power regulator has notified Rs6.15 per unit increase in base tariff for KE consumers. The government implements uniform across the country and government provides subsidy for KE consumers to implement uniform tariff. The National Electric Power Regulatory Authority (Nepra) moved ahead with the notification after determining that no legal bar existed to halt implementation. It invoked its enhanced powers under a 2021 legal amendment, which allows the regulator to issue tariff notifications directly — authority that previously rested with the federal government. The landmark move reflects pressure from international lenders, notably the IMF and the World Bank, to depoliticize tariff-setting and fast-track power sector reforms. "This situation could impair KE's financial health and undermine power supply continuity, ultimately affecting consumers and the broader energy market," Nepra warned in its statement. The newly notified average power supply tariff for KE stands at Rs 39.97 per kilowatt-hour for 2023-24, comprising Rs 31.96/kWh in power purchase cost, Rs 2.86 for transmission, Rs 3.31 for distribution, and Rs 2.28 as the supply margin. A prior year adjustment of minus Rs 0.44/kWh has also been included. Nepra estimated KE's total revenue requirement for FY 2023-24 at Rs 606.9 billion, with Rs34.7 billion allocated for supply margin and Rs 36.2 billion set aside to cover recovery losses. Despite the formal tariff approval, KE's finances remain under severe pressure. With bill recovery slipping to 91.5pc in FY 2023-24 and projected to fall to 90.5pc next year, the utility could face cumulative under-recoveries nearing Rs97 billion over two fiscal years. Nepra cautioned that KE's permitted Rs21.6 billion return on distribution operations might be wiped out without government support or adjustments. Nepra simultaneously approved a distribution tariff of Rs 3.31/kWh and Rs 2.684/kWh specifically to support a Rs 43.4 billion investment plan over the seven-year Multi-Year Tariff period. The government had challenged K-Electric's multi-year tariff (2024-30) approved by the power regulator last week, alleging the utility got an undue favour of Rs750 billion over the seven-year period at the cost of the national exchequer, power consumers across the country and taxpayers at large. In a statement, the power division had announced that the six tariff interventions allowed by Nepra to KE entailed a financial impact of Rs453bn spread over seven years. On top of that, the division added, a fuel cost impact higher than the national average for 2024-25 alone meant an additional cost of Rs41bn, which even if it remains flat would translate into Rs287bn in seven years. The division said the government position was to seek review of the Nepra determination to ensure fairness and uniformity, tariff must reflect actual costs and reasonable returns to protect consumers and there should be no extra allowance for inefficiency.
Time of India
03-07-2025
- Politics
- Time of India
NCP (SP) MLA bats for smooth traffic on Nagar & Alandi roads
Pune: In the ongoing monsoon session of the assembly on Thursday, NCP (SP) MLA of Wadgaon Sheri Bapu Pathare raised the issue of traffic congestion on Nagar Road and Alandi Road, while demanding removal of BRTS and demolition of the dedicated lane on Alandi Road to ease vehicular movement. In the question hour session, the MLA raised the issue of traffic snarls, particularly on Nagar Road, during peak hours. "The area is close to the airport. Commuters face daily hardships because of traffic congestion, which worsens because of diversions whenever there is VIP movement. There is urgent need for the state govt to intervene and resolve the issue," he said. In Aug 2024, Pune Municipal Corporation (PMC) had sanctioned Rs97 crore to construct an underpass and flyover on Nagar Road. Pathare said, "There has been no progress on ground. I urge the govt to direct PMC to expedite the process." You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Speaking about the traffic congestion on Alandi Road, which falls in his Wadgaon Sheri constituency, the MLA demanded removal of the BRTS corridor. He cited the example of Nagar Road, where the BRTS lane was removed to provide more space for smooth vehicle movement. "The BRTS project in Pune is defunct and the civic administration has cleared all corridors, except the one on Alandi Road. There is no point keeping it. The state govt should instruct PMC to clear the road like they dismantled the BRTS lanes on Nagar Road," Pathare said in the assembly.
Hans India
02-07-2025
- Business
- Hans India
Gold rallies Rs 1,200, silver surges Rs 2,000
New Delhi: Cutting short the seven-day losing streak, gold prices rebounded by Rs1,200 to Rs98,670 per 10 grams in the national capital on Tuesday due to fresh buying by stockists in line with strong global trends, according to the All India Sarafa precious metal of 99.9 per cent purity had settled at Rs97,470 per 10 grams on Monday. Gold of 99.5 per cent purity climbed by Rs1,100 to Rs98,150 per 10 grams on Tuesday. It had closed at Rs97,050 per 10 grams in the previous market close. 'A retreat in the US dollar, driven by concerns over the ballooning US fiscal deficit and the market's focus on President Donald Trump's proposed tax-cutting and spending bill, has made gold more attractive,' Abans Financial Services' Chief Executive Officer Chintan Mehta said. President Donald Trump has also threatened new tariffs on Japan ahead of the July 9 deadline for the implementation of reciprocal tariff.
Express Tribune
11-06-2025
- Business
- Express Tribune
BISP gets Rs722b in welfare push
The government has increased the amount for Benazir Income Support Programme (BISP) from Rs97 billion for fiscal year 2014-15 to Rs102 billion for 2015-16. PHOTO: PID The government has allocated Rs343.89 billion for the Ministry of Interior and its departments and Rs722.48 billion for the Benazir Income Support Programme (BISP), an unconditional cash transfer poverty reduction programme, according to the budget documents. It has also proposed an allocation of Rs2,550 billion for defense expenditures. Within the Ministry of Interior's allocation, Rs21.26 billion are proposed for the Islamabad Capital Territory (ICT), Rs274.15 billion for the Combined Civil Armed Forces, and Rs1.05 billion for the National Counter Terrorism Authority (Nacta). The Ministry of Law and its departments have been allocated Rs23.42 billion. Rs6.64 billion are proposed for the Supreme Court, Rs2.17 billion for the Islamabad High Court, and Rs9.86 billion for the Election Commission of Pakistan. The National Accountability Bureau (NAB) has been allocated Rs7.41 billion. The Prime Minister's Office (Internal) is proposed to receive Rs857.7 million, while the Prime Minister's Office (Public) has been allocated Rs896.5 million. Compared to last year, this reflects an increase of Rs124.5 million for the Internal Office and Rs179.5 million for the Public Office. The Intelligence Bureau (IB) is proposed to receive Rs19.12 billion. In terms of defense allocations, the Pakistan Army is set to receive Rs1,165.17 billion, the Pakistan Air Force Rs520.74 billion, and the Pakistan Navy Rs265.97 billion. Social welfare programmes have also received considerable funding. The BISP has been allocated Rs722.48 billion, while the Poverty Alleviation Division is to receive Rs10.23 billion, and Bait-ul-Mal Rs14.2 billion. The Railways Division is proposed to receive Rs70.45 billion. The National Assembly gets Rs16.29 billion, Senate Rs9.05 billion in budget. A total of Rs5.08 billion has been proposed for Members of Parliament (MPs) in terms of salaries and benefits, including Rs2.58 billion for salaries and Rs2.5 billion for travel expenses. The budget for MPs' allowances and benefits reflects an increase of Rs2.17 billion. Rs1.24 billion have been allocated for the privileges of Standing Committee chairpersons. For the speaker and deputy speaker of the National Assembly, Rs393.4 million have been proposed. The leader of the opposition and staff have been allocated Rs83.4 million. Senators' total salaries and benefits are set at Rs1.0638 billion, showing an increase of Rs400 million. The chairman, deputy chairman of the Senate, and their staff will receive Rs189.6 million, while Rs1.4433 billion have been proposed for the Standing Committee chairpersons of the Senate. The government has allocated Rs933.7 million for the President's public office expenses and Rs1.75 billion for personal staff expenses and allowances.
Hans India
10-06-2025
- Business
- Hans India
Silver soars Rs 1,000; Gold falls Rs 280
New Delhi: Silver prices soared Rs1,000 to hit a fresh peak of Rs1,08,100 per kilogram in the national capital on Monday, in line with firm global cues, according to the All India Sarafa Saturday, the metal traded flat at Rs1,07,100 per kg . Prior to that, the white metal on Friday had soared Rs3,000 to hit another record high of Rs1,07,100 per kilogram. Traders said silver prices surged due to strong investor demand, a weak dollar against major currencies, heightened geopolitical tensions, and firm industrial demand from the EV and solar sectors. Gold of 99.9 per cent purity fell Rs280 to Rs97,780 per 10 grams on Monday. The precious metal had declined by Rs1,630 to Rs98,060 per 10 grams on Saturday. The yellow metal of 99.5 per cent purity dipped Rs250 to Rs97,350 per 10 grams. It had depreciated by Rs1,500 to Rs97,600 per 10 grams in the previous market close.
