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  • Pakistan Met office issues thundershower alert from August 14

    Pakistan Met office issues thundershower alert from August 14

    ISLAMABAD: Pakistan Meteorological Department (PMD) on Saturday issued warnings of thundershower and urban flooding in various parts of the country.

    In a statement, the Met Office informed a depression has developed in Arabian Sea which is likely to move towards west along Makran coast.

    “Due to this weather system monsoon currents are continuously penetrating in southern parts of the country,” it added.

    READ MORE: Pakistan to review petroleum prices amid rupee appreciation, falling global oil

    Another low pressure (LPA) is likely to approach Sindh on 16th August. Under the influence of this weather system:

    • Rain-wind/thundershower (with few heavy falls) is expected in Sindh, Balochistan, Punjab, Islamabad, Khyber Pakhtunkhuwa, Gilgit Baltistan and Kashmir from 14th to 16th August with occasional gaps.

    • Widespread rain-wind/thundershowers (with scattered heavy to very heavy falls) are expected in Sindh and Balochistan from 16th to 18th August with occasional gaps.

    READ MORE: Pakistan MET issues alert for heavy rains, flooding

    Possible Impacts:

    • Heavy Rains may generate urban flooding in Karachi, Thatta, Badin, Hyderabad, Dadu, Jamshoro, Sukkur, Larkana, Shaheed Benazirabad and Mirpurkhas from 14th to 18th August.

    • Flash flooding is expected in Qilla Saifullah, Loralai, Barkhan, Kohlu, Mosa Khel, Sherani, Sibbi, Bolan, Kalat, Khuzdar, Lasbella, Awaran, Turbat, Panjgur, Pasni, Jiwani, Ormara, Gwadar and hill torrents of Dera Ghazi Khan during the forecast period from 14th to 18th August.

    READ MORE: KATI seeks precautionary measures before rains

    • Heavy Rains may generate urban flooding in Rawalpindi/Islamabad, Peshawar, Nowshera, Mardan, Faisalabad, Lahore and Gujranwala on 14th (night) to 16th August.

    • Flash flooding is expected in local Nullahs of Islamabad/Rawalpindi, Shakargarh, Sialkot, Narowal, Abbottabad, Mansehra, Dir, Karak, Lakki Marwat, Bannu and Kashmir on 15th & 16th August.

    • Rainfall may trigger landslides in Kashmir, hilly areas of Khyber Pakhtunkhwa, Galiyat, Murree, Chillas, Diamir, Gilgit, Hunza, Astore, Ghizer and Skardu during the forecast period.

    READ MORE: SBP issues options to make donation in PM flood relief fund

    • Fisherman are advised to remain more cautious from 16th to 18th August.

    • Travelers and tourists are advised to remain more cautious during the forecast period.

    The met office advised all the concerned authorities to remain alert and to take necessary precautionary measure during the forecast period.

  • Pakistan to review petroleum prices amid rupee appreciation, falling global oil

    Pakistan to review petroleum prices amid rupee appreciation, falling global oil

    KARACHI: Pakistan to review the existing prices of petroleum products on August 15, 2022 for next fortnight amid falling international oil prices and massive recovery in rupee value.

    The government may reduce the prices of petroleum products considering the latest crude oil prices in the international markets and sharp recovery in local currency against the US dollar.

    READ MORE: New petroleum prices in Pakistan from August 1, 2022

    Previously, the government reviewed the prices of petroleum products on July 31, 2022. As per the notification issued by the finance ministry, the government revised the following prices effective from August 01, 2022:

    The prices of petrol have decreased by Rs3.05 per liter to Rs227.19 from Rs230.24.

    The rate of high speed diesel has been increased by Rs8.95 per liter to Rs244.95 from Rs236.

    READ MORE: New petroleum prices in Pakistan from July 15, 2022

    The rate of kerosene oil has been increased by Rs4.62 per liter to Rs201.07 from Rs196.45.

    Similarly, the rate of light speed diesel has been decreased by 12 paisas per liter to Rs191.32 from Rs191.44.

    Some good developments have been seen since the last amendment in prices of petroleum products.

    The rupee continued the gain for the seventh straight session after falling to historic low. The local unit witnessed record low at Rs239.94 against the dollar on July 28, 2022. However, since then the rupee is continuously gaining to the dollar. The local currency gained about Rs18.75 or 7.51 per cent during the past seven trading days till August 10, 2022.

    READ MORE: New prices of petroleum products in Pakistan from July 01, 2022

    Pakistan is a net importer of petroleum products so huge foreign exchange is required for paying against foreign purchases and meeting local demand.

    The country has spent a staggering amount of $23.32 billion for the import of petroleum group during fiscal year 2021/2022 as compared with $11.36 billion in preceding year, showing a growth of 105 per cent. The import of finished products recorded an increase of 134 per cent to $12.07 billion during the fiscal year 2021/2022 as compared with $5.16 billion in the preceding fiscal year.

    READ MORE: New petroleum prices in Pakistan from June 16, 2022

    The benchmark Brent crude is below $100 dollars in the international market. Brent crude futures were at $97.40 per barrel in New York trade on August 10, 2022.

    The present government had started increasing the petroleum prices on May 26, 2022 when the benchmark Brent Oil was at $112 per barrel.

    Considering the price slump of international oil, the government had reduced the prices of petroleum products from July 15, 2022. However experts believed it was a political decision as the government had to increase petroleum levy and apply sales tax.

    READ MORE: New petroleum prices in Pakistan from June 03, 2022

    The previous government of PTI had kept both the petroleum levy and sales tax at zero in order to provide relief to the masses. The PTI government also provided a huge subsidy on prices of petroleum products in order to lower the rates and provide relief to the masses.

    However, former Prime Minister Imran Khan was removed through a vote of no-confidence motion on April 10, 2022. Since then the new coalition government led by PML-N increased the prices of petroleum products sharply on three different occasions.

    READ MORE: ECC approves petroleum dealer margin at Rs7/liter

    The present government in the budget estimated to collect Rs855 billion as petroleum levy during the fiscal year 2022/2023. As this fiscal year is starting from July 01, 2022, it is likely that the government will opt to impose the levy from this date.

  • Pakistan MET issues alert for heavy rains, flooding

    Pakistan MET issues alert for heavy rains, flooding

    KARACHI: Pakistan Meteorological Department has issued alert for heavy rains and flooding in various parts of country from August 10, 2022.

    Rain-wind/thundershower (with isolated heavy falls) is expected in Kashmir, Islamabad, northeast Punjab, upper Khyber Pakhtunkhwa, eastern Balochistan and southeastern Sindh from 06th to 09th August with occasional gaps.

    READ MORE: KATI seeks precautionary measures before rains

    Rain-wind/thundershower (with scattered heavy falls) are expected in Kashmir, Gilgit-Baltistan, Islamabad, Punjab, Khyber Pakhtunkhwa, Sindh and parts of Balochistan from 10th to 13th August with occasional gaps.

    Possible Impacts:

    Heavy Rains may generate urban flooding in Rawalpindi/Islamabad, Peshawar, Nowshera, Mardan, Faisalabad, Lahore and Gujranwala on 08th and from 10th to 12th August.

    READ MORE: SBP issues options to make donation in PM flood relief fund

    Flash flooding is expected in local Nullahs of Islamabad/Rawalpindi, Shakargarh, Sialkot, Narowal, Abbottabad, Mansehra, Dir, Karak, Lakki Marwat, Bannu and Kashmir on 08th and from 10th to 12th August.

    Heavy Rains may generate urban flooding in Karachi, Thatta, Badin, Hyderabad, Dadu, Jamshoro, Sukkur, Larkana, Shaheed Benazirabad and Mirpurkhas from 11th to 13th August.

    Flash flooding is expected in Qilla Saifullah, Loralai, Barkhan, Kohlu, Mosa Khel, Sherani, Sibbi, Bolan, Kalat, Khuzdar, Lasbella, Awaran, Turbat, Panjgur, Pasni, Jiwani, Ormara, Gwadar and hill torrents of Dera Ghazi Khan during the forecast period.

    READ MORE: Floods affect telecom services: PTA

    Catchment areas of Ravi, Jhelum and Chenab may receive heavy downpour causing water level to rise significantly during the forecast period.

    Rainfall may trigger landslides in Kashmir, hilly areas of Khyber Pakhtunkhwa, Galiyat, Murree, Chillas, Diamir, Gilgit, Hunza, Astore, Ghizer and Skardu during the forecast period.

  • SBP issues options to make donation in PM flood relief fund

    SBP issues options to make donation in PM flood relief fund

    KARACHI: The State Bank of Pakistan (SBP) on Saturday issued multiple options to make donations in prime minister flood relief fund 2022.

    The central bank said that the government had notified establishment of a flood relief fund, namely, Prime Minister’s Flood Relief Fund, 2022, for providing relief and rehabilitation to the affected population due to torrential rains and flash floods in many parts of the country.

    READ MORE: Floods affect telecom services: PTA

    The Fund shall accept donations / contributions both from domestic and international sources for the aforesaid purpose. The Fund will be administered by the National Disaster Management Authority (NDMA) while the Accountant General Pakistan revenue will maintain accounts of the Fund.

    In this regard, the SBP has opened “Prime Minister’s Flood Relief Fund Account, 2022” for collection donations / contributions to the Fund.

    All the commercial and microfinance banks shall open the account of the Fund and shall receive donations/contributions in cash, through cheques, payorder and demand drafts, at all their branches across the country. Donors have been provided multiple options for making donation/ contribution to the Fund as described below: –

    A. Overseas Donors:

    Wire Transfer:

    Overseas donors including overseas Pakistanis may donate to the Fund through wire transfer in the Fund account maintained with their respective bank. They would simply advise their respective banks to transmit the donation amount in the Fund Account by debiting their accounts. The banks shall transmit the consolidated amount of donations received in the Fund account to the SBP on daily-basis through ‘Real Time Gross Settlement’ (RTGS) system.

    READ MORE: Exports decline by 19.5 percent as rains, urban flooding disrupt supply chain

    Transfer through Money Service Bureaus, Money Transfer Operators and Exchange Houses:

    Overseas donors may also donate / contribute through Money Service Bureaus (MSBs), Money Transfer Operators (MTOs) (e.g. MoneyGram, Western Union) and Exchange Houses (EHs) in line with the arrangements in place for receiving home remittances. Banks receiving such remittances in the Fund Account shall transfer the consolidated amount through RTGS to the SBP on daily basis.

    B. Domestic Donors:

    Cash Deposits at Banks’ Counters:

    Donors and contributors may make their donations / contributions to the fund in cash at any branch of any bank operating in Pakistan, which shall transfer the consolidated amount of such donations to the Fund account at SBP through RTGS on daily basis. Similarly, donations/ contributions may also be made at any of the field offices of SBP Banking Services Corporation.

    Deposit of Crossed Cheques in the Name of the Fund in Bank’s Drop Boxes:

    The donors and contributors may make their donations / contributions to the Fund by dropping crossed cheques in the name of the Fund in their respective bank’s drop box. All banks shall make available drop box facility at their selected branches for donors where they may drop their crossed cheques in favor of the Fund. The banks shall, accordingly debit the customer’s account and transfer the amount of such proceeds daily on consolidated basis through RTGS to the SBP.

    READ MORE: Jazz announces free calls to calamity hit Balochistan

    Alternate Delivery Channels:

    The donor may also use alternate delivery channels e.g. internet banking, mobile banking, Automated Teller Machines (ATMs) and mobile wallets etc. to donate / contribute to the Fund account through Inter-Bank Fund Transfer Facility (IBFT)/Raast. The commercial and microfinance banks shall prominently display the IBAN of the Fund at their websites.

    3. The banks shall maintain the details of individual donors i.e. name of donor the amount of his/her contribution, mode of payment etc., with them and shall be made available to SBP as and when needed. Please acknowledge receipt.

    READ MORE: IRC launches rain relief operation in Balochistan

  • Desegregated approach vital for family planning

    Desegregated approach vital for family planning

    KARACHI: Experts lauded the role of Provincial Minister of Health and Population Welfare (Sindh), Dr Azra Fazal Pechuho and Secretary Health Sindh, Zulfiqar Ali Shah, for their continuous efforts towards putting the agenda of family planning at the forefront and introducing reproductive health bill for stressing the need and importance of family planning towards achieving national goals and country’s development,.

    These thoughts were expressed in FP (Family Planning) 2030 meeting, held in commemoration of World Population Day. Participants of the meeting highlighted the impact of high population growth rate on its socio-economic development and emphasized its linkages with rising poverty and disparity, to climate change, high urbanization and urban migration, all restraining investment in human development and improving lives of people. Pakistan has made its FP2030 Commitments in line with its national goals agreed under the CCI Recommendations and the targets set for the National Action Plan.

    Technical Advisor and Focal Person FP 2030, Dr Talib Lashari highlighted key reforms made under the FP2030 working group such as functional integration between Department of Health and Population Welfare Department. He added that significant progress has been observed in the areas of staff capacity building, youth engagement, legislative reforms and Life skills-based Education. Dr Lashari also shared the implementation progress of self-injectable DMPA-SC (Sayana Press) in Sindh and noted that CIP is moving to initiate self-injection by clients.  

    Speaking at the event, Country Advisor Gates Foundation, Dr Yasmin Qazi shared the historical perspective on family planning in Pakistan and stressed that we need to work collaboratively to address the gaps and fulfill the unmet needs of couples who want access to family planning support. For this we need to ensure steady supply of contraceptive commodities supplemented by behavior change engagement and counselling.

    Country Director Jhpiego, Dr Fauzia Assad said that an integrated multisectoral approach is imperative for expansion of family planning choices by scaling up self-injection contraceptives. She added that we need to continue to innovate by inclusion of concepts such a self-care in Family Planning and in particular focus upon engaging men in the ongoing discourse of Family Planning.

    President Szabist University, Shehnaz Wazir Ali remarked that joint planning is critical for creating cohesion amongst FP2030 partners and assured galvanizing academia support for partners. Wazir also appreciated CIP for being acknowledged as global best practice model out of 43 countries.

    UNFPA representative, Renuka Swami cautioned that with the world population reaching 8 billion it underscores the need for moving from number towards making informed choices. She suggested to engaging young people in the discourse of family planning.

    Dr Mohiuddin, RIZ consulting said that one of the core indicators under FP2030 is increasing the modern contraceptive prevalence rate (mCPR) and for that it is imperative to scale-up new modern contraceptive such as self-injectable Sayanna Press.

    Program Officer FP BMG, Linnea Eitmann stated that she is invigorated by the joint partnership and the leadership of Honorable Minister Dr Azra and CIP and commended how Pakistan is inclined towards gender transformative approaches and based on the enthusiasm towards change working Pakistan will be a priority. She also informed the participants regarding Gates foundation three core components i.e. expanding method choice, developing new and improved contraceptive methods and lastly increasing access to each method.

    The meeting concluded with the FP2030 partners reaffirming their support for the unified goal for working collaboratively for balanced population management and resultantly as stronger prosperous Pakistan.

  • Jazz announces free calls to calamity hit Balochistan

    Jazz announces free calls to calamity hit Balochistan

    KARACHI: Jazz, the leading cellular service provider in Pakistan, on Monday announced free calls to facilitate the people of calamity hit Balochistan.

    In a statement, the operator said that in order to facilitate the people of Balochistan during this calamity, all Jazz to Jazz and PTCL calls are free.

    READ MORE: Floods affect telecom services: PTA

    Despite extremely challenging conditions, all efforts are being made to ensure the provision of essential telecom services in flood-affected areas.

    Earlier, Pakistan Telecommunication Authority (PTA) had said that the recent flash floods in Balochistan have caused multiple optic fiber breaks impacting voice and data services in Lasbela, Kech, Panjgoor, Gwadar, Awaran, Ziarat, Mastung and adjoining areas.

    READ MORE: Norwegian envoy calls on PTA Chairman

    About 343 cell sites of three cellular mobile operators (Telenor, Ufone and Zong) and PTCL had been affected due to floods.

    Efforts are being made to resolve this unprecedented situation. PTA is working with the concerned operators for early restorations of affected communication channels.

    READ MORE: FBR, PTA introduce temporary registration of cell phones

  • New petroleum prices in Pakistan from August 1, 2022

    New petroleum prices in Pakistan from August 1, 2022

    KARACHI: Pakistan on Sunday revised the prices of petroleum products effective from August 01, 2022.

    Ministry of Finance announced the following rates effective from August 01, 2022:

    The new prices of petrol have been decreased by Rs3.05 per liter to Rs227.19 from Rs230.24.

    The rate of high speed diesel has been increased by Rs8.95 per liter to Rs244.95 from Rs236.

    The rate of kerosene oil has been increased by Rs4.62 per liter to Rs201.07 from Rs196.45.

    Similarly, the rate of light speed diesel has been decreased by 12 paisas per liter to Rs191.32 from Rs191.44.

    READ MORE: New petroleum prices in Pakistan from July 15, 2022

    Previously the present government had started increasing the petroleum prices on May 26, 2022 when the benchmark Brent Oil was at $112 per barrel and now as of July 29, 2022, the international prices of Brent Oil have fallen to $110 per barrel.

    Considering the price slump of international oil, the government had reduced the prices of petroleum products from July 15, 2022. However experts believed it was political decision as the government had to increase petroleum levy and apply sales tax.

    Furthermore the Pakistani Rupee (PKR) has sharply fell against the dollar leaving no room for the government but to increase the prices of petroleum products.

    READ MORE: New prices of petroleum products in Pakistan from July 01, 2022

    The previous government of PTI had kept both the petroleum levy and sales tax at zero in order to provide relief to the masses. The PTI government also provided a huge subsidy on prices of petroleum products in order to lower the rates and provide relief to the masses.

    However, former Prime Minister Imran Khan was removed through a vote of no-confidence motion on April 10, 2022.

    Since then the new coalition government led by PML-N increased the prices of petroleum products sharply on three different occasions.

    READ MORE: New petroleum prices in Pakistan from June 16, 2022

    The new government of Prime Minister Shehbaz Sharif increased the prices of petroleum products on May 26, 2022, June 02, 2022 and June 15, 2022. Cumulatively, the government increased the price of petrol by 84 per liter in these price hikes.

    The present government in the budget estimated to collect Rs750 billion as petroleum levy during the fiscal year 2022/2023. As this fiscal year is starting from July 01, 2022, it is likely that the government will opt to impose the levy from this date.

    READ MORE: New petroleum prices in Pakistan from June 03, 2022

  • Experts highlight importance of female education

    Experts highlight importance of female education

    ISLAMABAD: Highlighting the importance of female education and the role it plays in country’s development, experts stressed on the role of academia, civil society and government towards making education compulsory for all and remove the bottlenecks in the implementation of Article 25A of the Constitution of Pakistan.

    Special emphasis was laid on eliminating discrimination against girls towards provision of their basic right.

    These thoughts were expressed by experts during National Conference on Girls Right to Education, organized by Awaz CDS Pakistan here.

    Chairperson National Commission on the Rights of Children (NCRC) Afshan Tahseen, emphasized on the need of developing national and provincial education policies that will benefit the whole country. She highlighted how government can monitor the enforcement and administration of current legislation and assess and solve the bottlenecks concerning equity and quality in imparting educational for all. Lack of Implementation of Article25A is central to all challenges being faced by children and youth in our country, she highlighted.

    Ali Kamal Chief SDGs Planning Commission of Pakistan, talked about current status of SDG-4 in the country and informed the factors hindering the implementation of Article 25 A. He said that, girls constitute the majority of Out of School Children (OOSC) population. He further said that SDG-4 is enabler to achieve all other 16-SDGs.

    Speakers at the conference appreciated Awaz CDS for providing such platforms to develop and monitor national and provincial education policies that will benefit all students, providing a valuable forum to share information and strategies to improve educational equity, advocating for girls education and related issues, and monitoring the work of government on education policies and programs.

    Convener at Parliamentary Research Group and Chief Executive, Vision 2047, Zafarullah Khan said that, there is a need to identify the reasons affecting education in the country. He said that Pakistan is a developing country and is far away from achieving the national and international educational targets. There are many stumbling factors in this regard like lack of educational funds; poor school facilities; poor management; absence of schools; unavailability of teachers; patriarchy and lack of awareness about the importance of education.

    Chief Executive Awaz CDS Pakistan, Mohammad Zia ur Rehman said that “more than one decade has passed when Article25A was passed by the Parliament of Pakistan whereas its implementation so weak that nothing has been witnessed beyond commitment. we demand Government to establish an effective tracking and reporting system to capture the gender specific expenditures of education system for better policy making”.

    He further said that to ensure education for every out-of-school girl in Pakistan by 2030, the provision of stipend / monetary incentive and nutritional support is necessary. He demanded to assign an identical e-identity number to every OOS girl specific with an identification of the target population and its location alongwith appropriate legislation to end child marriages.

    Malala Education Champion Marium Amjad Khan said that 3.3% of girls in Pakistan are married off under the age of 15 while 18.3% of girls married off are under the age of 18, so early marriage is a big barrier in girls secondary education besides number of other social and economic reasons. We should start with changing the mindset of people.

    There were panel discussions and various sessions in the conference in which speakers shared their knowledge and suggestions.

    During the session on “Policy to Action progress on Education”, speakers shared their thoughts and insights regarding Girls Right to Quality Secondary Education. Executive Director Bedari (Punjab), Anbreen Ajaib, Executive Director Mechanism for Rational Change (Balochistan), Sumera Mehboob, Executive Director- Pakistan Youth Change Advocates (Khyber Pakhtunkhwa), Areebah Shahid, National Coordinator Pakistan coalition for Education, Zehra Kaneez and Programs Director-AzCorp Entertainment (Sindh), Madiha Rehman shared situation from their respective provinces and provided the audience with the whole scenario of education system in Pakistan.

    This session was followed by sessions on “Development agenda and role of donor support”. Munazza Gillani Country Director Sightsavers International focused on inclusive and accessible  education. Sadie Hussain from ACTED shared solutions to ensure No Girl Leave Behind. Mahwish Afridi from Hashoo Foundation shared Tech Education Schools in the newly merged districts of Khyber Pakhtunkhwa and Zeeshan Noel from UNWOMEN focused on addressing patriarchal challenges to address girls education in Pakistan. A large number of representatives from government, academia, civil society, policy makers and educationists attended the event.

  • Pakistan grants 5-year tax exemption to promote film industry

    Pakistan grants 5-year tax exemption to promote film industry

    ISLAMABAD: Pakistan has granted five-year tax exemption on income derived from cinema operations in order to promote local film industry.

    The tax exemption has been granted under Income Tax Ordinance, 2001 by amendment made through Finance Act, 2022.

    READ MORE: Advance tax on immovable property enhanced by 100%

    The Federal Board of Revenue (FBR), the apex tax collecting agency of Pakistan, issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments introduced through the Finance Act, 2022 to the Income Tax Ordinance, 2001.

    The FBR said that in order to promote local film industry, following new measures have been introduced:

    (i) Five years tax exemption has been granted by inserting clause (151) in Part I of Second Schedule to the Income Tax Ordinance 2001 to a person who derives any income from cinema operations, starting from the commencement of cinema operations.

    READ MORE: FBR explains changes in advance tax on motor vehicles

    (ii) Through insertion of clause (153) in Part I of Second Schedule to the Ordinance, exemption has been granted to profit and gains derived by a resident producer or a resident production house from production of feature films during the period from July 01, 2022 to June 30, 2027.

    READ MORE: Pakistan introduces automated system for withholding tax payments

    (iii) Similarly, exclusion from provisions of section 148 of the Income Tax Ordinance, 2001 has been provided through insertion of Clause (12P) in Part IV of Second Schedule on import of machinery and equipment as listed in serial no. 32 of Part-I of Fifth Schedule to the Customs Act, 1969 subject to the conditions and limitations specified therein.

    (iv) Moreover, through insertion of clause (43H) in Part IV of Second Schedule, exclusion from the provisions of clause (b) of sub-section (1) of section 153 has been provided to an exhibitor or a distributor of a feature film, as payer, on payment made to a distributor, producer or importer of feature film.

    READ MORE: Tax imposed on foreign payments made by exchange companies

  • NEPRA to conduct public hearing on KE’s petition on July 28

    NEPRA to conduct public hearing on KE’s petition on July 28

    KARACHI: National Electric Power Regulatory Authority (NEPRA) has announced to conduct a public hearing on July 28 over the petition submitted by K-Electric on Fuel Charges Adjustments (FCA) for June 2022.

    The utility has sought an increase of Rs11.38/KWh in its FCA petition for June 2022. As per applicable tariff across the country, fuel adjustment is reviewed every month and is applicable on consumer bills for only one particular month.

    READ MORE: Revised power tariff, taxes on electricity bills in Pakistan

    The major impact on the monthly Fuel cost adjustment of June 2022 is due to an increase in the fuel price increase of Furnace Oil and power purchased from CPPA-G.

    The price of RLNG in June 2022 has increased by 50 per cent from March 2022. The price of RLNG as at June 2022 is Rs4,627 / MMBTU as compared to the price of Rs3,083 / MMBTU in March 2022.

    The price of electricity from CPPA-G in June 2022 has increased by 74 per cent from March 2022. The price of power purchased from CPPA-G as at June 2022 is Rs15.844/KWh as compared to the price of Rs9.098/ KWh in March 2022.

    READ MORE: K-Electric, Siemens sign deal for KKI Grid construction

    Fuel Charge Adjustment (FCA) is incurred by utilities due to global variation in fuel prices used to generate electricity and change in the generation mix. These costs are passed through to the consumers following NEPRA’s scrutiny and approval and are one-time charges. Consumers also receive a benefit when the cost of fuel decreases.

    After the public hearing and scrutiny, the regulator will make a decision on the request and issue instructions on the period during which these costs can be applied to consumer bills.

    READ MORE: Rupee devaluation severely affects KE’s profitability

    K-Electric (KE) is a public listed company incorporated in Pakistan in 1913 as KESC. Privatized in 2005 KE is the only vertically integrated utility in Pakistan supplying electricity within a 6500 square Kilometre territory including Karachi and its adjoining areas.

    The majority shares (66.4 per cent) of the company are listed in the PSX owned by KES Power, a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF). The Government of Pakistan is also a minority shareholder (24.36 per cent) in the company.

    READ MORE: KE’s profit up by 161% on high tariff adjustment