Withdrawal of sales tax through electricity bills demanded

Jul 25

Taxation

Withdrawal of sales tax through electricity bills demanded

KARACHI: Authorities have been urged to withdraw the collection of sales tax through monthly electricity bills for service providers. Ms. Fauzia Rasheed, advocate high court at M/s. Lawyers Inc., a law consultancy firm, has strongly protested over the collection of sales tax by the federal government through monthly electricity bills from service providers. READ MORE: […]

by Faisal Shah

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

Jul 21

Energy, National

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 […]

by Faisal Shah

Revised power tariff, taxes on electricity bills in Pakistan

Jul 18

Energy, National, Top stories

Revised power tariff, taxes on electricity bills in Pakistan

KARACHI: Various changes have been made to rates of electricity and tariff structure in Pakistan that are effective from July 2022 under the governing laws, rules, and regulations of the Government of Pakistan and NEPRA. The revises rates are applicable nationwide including on consumers in KE’s service territory. The determination of costs of electricity to […]

by Faisal Shah

K-Electric, Siemens sign deal for KKI Grid construction

May 17

Corporate, Energy

K-Electric, Siemens sign deal for KKI Grid construction

KARACHI: K-Electric has awarded the EPC contract for the construction of 500/220 kV KANUPP – K-Electric Interconnection (KKI) Grid to Siemens (Pakistan) Engineering Company Limited, according to a statement issued on Tuesday. The signing ceremony between Siemens and K-Electric was held at KE’s Head Office. KKI Grid will be the addition of fourth interconnection in […]

by Faisal Shah

Rupee devaluation severely affects KE’s profitability

May 9

Corporate, Energy

Rupee devaluation severely affects KE’s profitability

KARACHI: The net profitability of K-Electric declined by 84 per cent to settle at Rs1.5 billion in relation to last year’s Rs 9.44 billion mainly sharp devaluation in Pakistan Rupee (PKR). A statement issued on Monday stated driven by continued and targeted investments of Rs 36.99 Billion across the power value chain, key operational indicators […]

by Hamza Shah

K-Electric to raise Rs12 billion through Sukuk

Feb 9

Corporate, Energy

K-Electric to raise Rs12 billion through Sukuk

KARACHI: K-Electric Limited – the power generation and a supply company on Wednesday announced raising funds up to Rs12 billion through issuing Sukuks. In a communication sent to Pakistan Stock Exchange (PSX), the company said that its Board of Directors in its meeting held on February 09, 2022 considered and business updated and among other […]

by Faisal Shah

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

Oct 28

Corporate, Energy, Top stories

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

KARACHI: K-Electric Limited (KE), the power generating and supply company, on Thursday announced massive 161 per cent growth in net profit for quarter ended September 30, 2021, mainly surge in revenue in the shape of tariff adjustment. The profit after tax of the KE grew by 161 per cent to Rs2.9 billion for the quarter […]

by Faisal Shah

Sep 13

Corporate, Energy

K-Electric profit surges five times

KARACHI: The annual profit of K-Electric, the utility company providing electricity to Karachi city, has surged by five times to Rs12 billion for the year ended June 30, 2021. According to financial results approved by the board of directors on Monday, the profit of the company sharply increased to Rs12 billion for the year 2020/2021 […]

by Faisal Shah

May 31

Energy

KE privatization was policy mistake

KARACHI: Privatizing an integrating and monopoly provider of an essential service (i.e. electricity) to over 20 million people was a policy mistake, said a letter written by an advisor to the Prime Minister on Power and Petroleum. Tabish Gauhar, Special Advisor to the PM on Power and Petroleum, in his response to a letter written […]

by Anjum Shah

K-Electric declares 222 percent growth in quarterly profit

Apr 28

Corporate, Energy

K-Electric declares 222 percent growth in quarterly profit

KARACHI: K-Electric Limited (KE) – a power generating and supply company – has announced a sharp 222 percent growth in net profit for the quarter ended March 31, 2020 despite massive impairment loss against trade debts during the same period. According to quarterly financial results submitted to Pakistan Stock Exchange (PSX) on Wednesday, the company […]

by Anjum Shah