Business News

Pakistan Is Expected To Increase The Price Of Electricity By PKR3.15 Per Unit

Pakistan Is Expected To Increase The Price Of Electricity By PKR3.15 Per Unit

April 20, 2022 / By Zunair Tahir / Business News

ISLAMABAD, Pakistan – The National Electric Power Regulatory Authority (NEPRA) has received a petition demanding a Rs3.15 per unit rise in power prices in March 2022 due to changes in fuel prices.

The application was sent by the Central Power Purchasing Agency (CPPA), and it will be heard by Nepra on April 27. If the raise is accepted, the public would be saddled with a Rs30 billion charge.

According to the CPA’s appeal, a total of 10 billion units were produced in March at a cost of Rs94 billion.


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In March, the CPPA notified the regulatory body that the per unit cost of power generated from thermal oil was Rs22.52, while the cost of energy generated from LNG was Rs14.36.

According to the electricity regulatory, the ruling will have no impact on K-Electric customers.



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Business News

(IMF) Has Expressed Concern Over Pakistan’s Growing Inflation and Expanding Current Account Deficit

(IMF) Has Expressed Concern Over Pakistan’s Growing Inflation and Expanding Current Account Deficit

April 20, 2022 / By Zunair Tahir / Business News

ISLAMABAD, Pakistan – Pakistan’s surging inflation and expanding current account deficit have alarmed the International Monetary Fund (IMF).

According to a recent assessment by the Washington-based banking organization, the South Asian country’s productivity is on the decline.

Inflation is expected to stay around 11.2 percent this year, with the current account deficit hovering at 3.5 percent of GDP.

According to the estimate, economic growth will be about 4% this year, while unemployment will be around 7% this year and 6.7 percent next year.


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On April 21, Pakistani Internet Users Will Experience Slow Speeds


Meanwhile, in the aftermath of the crisis in Ukraine, the UN has cut its global growth estimates, warning that a Kremlin invasion may break the global economy into opposing blocs.

It noted that prospects had deteriorated in the previous three months, as it decreased its growth forecast for 2022 from 4.4 percent to 3.6 percent. The news comes as Islamabad has formally begun discussions with the IMF on the bailout package in Washington. According to sources, negotiations with the US-based financial institution will last until April 24, and the IMF will disburse a $1 billion tranche following successful talks.

Governor of the State Bank of Pakistan, Reza Baqar, is now in the United States for discussions with IMF officials. He will also be present at the World Bank’s steering committee meeting. Miftah Ismail, the Prime Minister’s Finance Adviser, will participate in the IMF negotiations electronically.


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BUSINESS NEWS

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May 19, 2022 / By Zunair Tahir / Business News


(IMF) Has Expressed Concern Over Pakistan’s Growing Inflation and Expanding Current Account Deficit

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April 20, 2022 / By Zunair Tahir / Business News


Pakistan Is Expected To Increase The Price Of Electricity By PKR3.15 Per Unit

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April 20, 2022 / By Zunair Tahir / Business News


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