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Business Recorder
21 minutes ago
- Business
- Business Recorder
Nepra's decisions on KE tariffs: Power Div. flags potential consumers harm, urges revision
ISLAMABAD: The Power Division on Wednesday announced plans to file reviews of the National Electric Power Regulatory Authority's recent decisions regarding K-Electric tariffs, warning that parts of the rulings could have negative consequences for consumers if not revised. Power Minister Sardar Awais Khan Leghari took to X (formerly Twitter) to express concerns about Nepra's decisions announced during the last few days that have drawn strong reactions from the ministry. The minister's remarks came at a time when Nepra, which by law is the power sector regulator, feels helpless in implementing its directions issued to Power Division and its affiliated organizations. NEPRA approves K-Electric's MYT for supply segment Last month, during a public hearing on IEECO's Multi-Year Tariff petition , Member (Tech) Rafique Ahmad Shaikh, asked Power Division to get rid of Chief Executive Officer (CEO), for poor performance. Similar positions were seen in other Discos and NTDC, which irritated the Authority during public hearings. 'The Ministry has serious concerns regarding Nepra's multiple determinations related to K-Electric's licenses for generation, transmission, distribution, and supply. These decisions also impact the investment plan for the upcoming multi-year tariff period,' said the Power Minister. Leghari emphasized that the rulings have significant long-term implications for consumer tariffs and the Federal Government's subsidy framework under the uniform tariff regime. 'The ministry is preparing to seek a review of the recent determinations concerning transmission, distribution, and supply. Additionally, the reconsideration of an earlier generation tariff decision — submitted back in December 2024—still awaits Nepra's attention. This delay poses serious financial risks for the power sector and its associated subsidies,' he added. The minister further cautioned that unresolved issues within Nepra's rulings could negatively affect consumers and the broader regulatory environment, potentially deterring private sector investment in the distribution sector. According to a power sector expert, Nepra's annual recovery loss allowance of Rs 40 billion granted to K-Electric—totaling over Rs 320 billion across seven years. Another insider sarcastically stated that 'Minister seems super happy on Nepra's determinations'. Another expert stated that real challenge is rampant power theft and non-recovery of electricity bills in the country. On the governance side, however, the proposed bill to classify electricity theft as a criminal offense was recently rejected by lawmakers. As a result, Discos are left with no option but to recover their legitimate business costs from paying consumers — a practice observed across the country. Power Division wants to review Nepra's recent tariff determinations for K-Electric, consumers across Pakistan, including those in Karachi, already burdened with the PHL surcharge due to the continued non-recovery of dues from other government-owned Discos. The Nepra's determinations on KE Multi-Year Tariff petitions are actually removing such disparities currently present in Pakistan's power sector. Also, unlike KE previous multiyear tariff for 2017-23, there is a periodic review mechanism built in the tariff for the period 2023-30. Copyright Business Recorder, 2025
Time of India
21 minutes ago
- Business
- Time of India
Trai seeks views on backhaul spectrum pricing in relief push for telcos, Vodafone Idea could benefit most
The telecom regulator has sought stakeholder comments to review the pricing methodology, future assignment and related terms and conditions of backhaul airwaves, a move which may reduce the financial burden of telecom operators , especially debt-ridden Vodafone Idea . The Telecommunications Regulatory Authority of India ( Trai ) on Wednesday sought views on microwave spectrum across several key bands — 6 GHz (lower), 7 GHz, 13 GHz, 15 GHz, 18 GHz, 21 GHz, E-Band (71-76 GHz and 81-86 GHz) and V-Band (57-64/66 GHz). The regulator is also looking to address the potential identification of 7GHz and 15 GHz bands for future mobile services usage. The recent decision by the government to delicense the lower frequencies in the 6GHz band has raised questions about protecting existing users in that band. Backhaul spectrum is primarily used to connect the towers, and is different from access spectrum, which the telcos buy in auction. Live Events ET was the first to report, on May 27, that the telecom regulator was considering a consultation paper on overhauling the pricing and allocation methodology of backhaul bandwidth. Further issues put forth by Trai include earmarking spectrum for fixed wireless access and non-commercial captive users, and prescribing minimum link lengths, among others. The need for fresh consultation regarding the assignment of microwave spectrum stems from significant changes in the legal framework where, under the new Telecommunications Act, 2023, backhaul waves are to be allocated administratively. For traditional microwave bands (6-21 GHz) and newer E-band and V-band usage, the regulator has sought comments on demand levels and suitable commercial services. Stakeholders have been asked to weigh in on the assignment method and determine how much spectrum should be earmarked for it. The consultation paper, released on Wednesday, has more than 50 questions, including the pricing of high-bandwidth E-band and V-band for the first time for backhaul use. The regulator also sought inputs on the feasibility of allowing low-power indoor and outdoor usage of V-band on a licence-exempt basis, parallel to licensed use. The latest stakeholder consultation from Trai will also tackle how to levy the spectrum charges and valuation for commercial backhaul in traditional bands. Currently, telcos pay 0.15% to 3.95% of adjusted gross revenue (AGR), or between Rs 4,500 and 5,550 crore annually, as spectrum charges for using backhaul carriers. The higher the number of carriers used, the more the fees paid. Experts said reviewing the pricing methodology could ease the financial burden on telecom operators, especially debt-laden Vodafone Idea which has the largest number of backhaul carriers. The regulator is also consulting on the necessity and criteria for spectrum caps on carriers, and whether existing carriers can be retained under the new policy. It has fixed June 25 as the deadline for comments and July 9 for counter-comments. The telcos want a fixed cost for backhaul spectrum and the price to be minimal as they have been paying market-determined rates for access airwaves. Traditionally, backhaul carriers had been given administratively to telcos, but the practice was stopped after the 2012 Supreme Court verdict. After that, the Department of Telecommunications started allocating backhaul carriers provisionally. But with the Telecommunications Act being implemented now, there is clarity and has led to this fresh consultation on the issue.
Economic Times
23 minutes ago
- Business
- Economic Times
VCs smell a big opportunity as petcare expands beyond food
A surge in pet adoption since the Covid pandemic, coupled with the rapid expansion of petcare services and the rise of quick commerce, is prompting both risk-capital and strategic investors to seek opportunities in the petcare startup space. ADVERTISEMENT On Monday, Swiss multinational Nestlé SA announced a minority investment in Drools, turning the Bengaluru-based pet food brand into a unicorn, or a privately held firm valued at $1 billion or more. Supertails, a digital petcare platform backed by Fireside Ventures, is in talks to raise $24–25 million in a fresh round, people aware of the matter said. Heads Up For Tails, a petcare brand and retail chain backed by Peak XV Partners, is also in discussions for a new round of funding, sources a Gurgaon-based veterinary care startup, recently closed a $26-million funding round led by Bessemer Venture the last five years, petcare startups — which are broadly categorised as either product-driven offerings or services — have raised $198 million in funding across 20 deals, according to data provided by Venture Intelligence. ADVERTISEMENT Petcare startups have raised $198 million 20 deals over five years. 'Investors see this as a very healthy category because on the one side, there is growth and on the other side, it is a pure retention-based category with good margins,' said Vineet Khanna, cofounder of Supertails. ADVERTISEMENT Founded in 2021, Supertails has raised $30 million so far, including $15 million from RPSG Capital Ventures in February 2024. Prior to the Nestlé investment, Drools had raised $60 million from L Catterton in 2023. ADVERTISEMENT India's petcare market, currently valued at $3.5 billion, is expected to reach $7–7.5 billion by 2028, according to a report by Redseer Strategy Consultants. The number of pets in Indian households has grown from 26 million in 2019 to 32 million in 2024, the report noted.'Higher disposable incomes, delayed marriages, and lower fertility rates are contributing to increased demand for companionship (of pets),' Khanna said the industry is growing consistently with strong retention of consumers, 'especially as people spend more across categories.' ADVERTISEMENT Legacy FMCG players and consumer companies have also entered the fray. In August 2023, Godrej Consumer Products committed Rs 500 crore to the category through a joint effort with Godrej Agrovet. Earlier, Nestlé India acquired Purina Petcare India from its global parent for Rs 125.3 crore, and Emami picked up a 30% stake in petcare brand Cannis Lupus Services India. Currently, Mars, the maker of Pedigree and Royal Canin, remains the market leader in pet nutrition in larger players, startups like Heads Up For Tails, Supertails, Goofy Tails, and Just Dogs have built product-led offerings, while Vetic, Petmojo, The Pet Nest, and Happy Pettings are focused on services like vet care, grooming, and product purchases are increasingly made online, especially on platforms like Amazon, Flipkart, and quick commerce services like Blinkit and Zepto.'Ecommerce created the initial demand, but quick commerce is what's taking it to the next level,' said Renu Bisht, founder of brand consultancy Commercify360. 'Now, even in tier-II cities, pet owners can access a wide range of products without visiting niche offline stores.'Non-food categories such as grooming, supplements, toys, and accessories are now growing faster than core pet food, industry experts said.'If food is growing at 18–20% year-on-year, non-food segments like healthcare and accessories are clocking over 25% growth,' Khanna noted. 'Pet parents today are far more aware of their pets' needs.' Prayag Mohanty, principal at Fireside Ventures, said, 'The pandemic was a clear tailwind. People were at home and started looking for companionship. That growth has continued across the category.'
Hans India
24 minutes ago
- Politics
- Hans India
Rs 24.62 cr sanctioned for road works
Rajamahendravaram: A sum of Rs 24.62 crore has been sanctioned through NABARD for the development of roads in East Godavari district, covering 13 specific projects. According to a statement released on Wednesday by district collector P Prasanthi, the funds have been allocated for construction and repair works covering a total of 38.61 kilometres across seven constituencies in the district. In Anaparthi constituency, Rs 3.20 crore has been sanctioned for the reconstruction of the Marripudi–RB Patnam road in Rangampeta mandal and the Duppalapudi–Kapavaram road in Anaparthi mandal. In Rajahmundry Rural constituency, Rs 3.30 crore have been allocated for road works from Kathethu bathing ghat in Rajahmundry Rural mandal and roads in Jerugupadu, Kadiyam, K Savaram, and Madhavarayudupalem villages in Kadiyam mandal. In Rajanagaram constituency, Rs 3.25 crore has been allotted for a 3.05 kms stretch up to Purushottamapatnam in Seethanagaram mandal. In Gokavaram mandal, Rs 1.50 crore has been sanctioned for 2.80 kms of road up to R Yerrapalem. Gopalapuram constituency will receive Rs 3.30 crore for road development between Chodavaram–Gundepalli and Kancherlagudem–Sanjeevapuram in Nallajerla mandal. In the Kovvur constituency, RS 2.70 crore has been granted for the construction of the BT road from Penakanametta to Kumaradevaram in the Kovvur mandal. In the Nidadavole constituency, Rs 7.37 crore have been sanctioned for various road works, including Paidimarru–Satyavada in Undrajavaram mandal, Kanuru–Nadupalli Kota in Peravali mandal, and Singavaram–Nandamuru in Nidadavole mandal, along with Kapavaram–Kothapalli Agraharam in Peravali mandal. The funds are part of the government's initiative to strengthen rural connectivity and infrastructure through NABARD assistance, with works expected to begin shortly across the approved locations, the collector stated.
Hans India
24 minutes ago
- Hans India
Four held for chain snatching, gold worth Rs 30 lakh seized
Vijayawada: In a significant breakthrough, NTR district police have arrested four individuals in connection with numerous chain snatching and theft cases, recovering approximately 476 grams of gold jewellery valued at around Rs 30 lakh along with two motorcycles. Addressing the press conference at the Commissionerate here on Wednesday, Police Commissioner SV Rajasekhara Babu specially commended ASI Balayya, Swami, Satyanarayana, head constable Ravi, and constables Mithun, Suresh, Shabbir, and Ramana for their pivotal role in apprehending the chain snatchers. CCS inspectors and their teams formed multiple special units across all police stationsin the district to closely monitor suspicious activities. Based on precise technical intelligence, CCS Inspector Ram Kumar and his team apprehended four individuals near the Tummalapalem bus stop in Ibrahimpatnam. The suspects had attempted to flee upon noticing the vehicle inspection. Subsequent interrogation led to the recovery of gold ornaments from 25 chain snatching cases and two motorcycles, resulting in their immediate arrest. The arrested individuals have been identified as Achi Giribabu and Achi Mahesh both from Upputuru in Nellore district, Galeti Venkata Ramana from Donabanda in NTR district and Mogili Sandhya from Kondapalli in NTR district. During the interrogation, it was revealed that the prime accused Achi Giribabu initially worked as an agricultural labourer in Upputuru village. He targeted lone women, snatching their gold chains while riding his Unicorn motorcycle. Giribabu confessed to committing 12 chain snatching offenses in and around his native Nellore district previously, for which he was arrested and imprisoned. Upon his release, fearing re-arrest in Nellore, he moved to Kondapalli in NTR district, where his second wife, Venkata Ramanamma, resided. Later, he relocated to Donabanda and continued his criminal activities. Giribabu alone committed 15 snatching offenses on his motorcycle. He collaborated with his brother Mahesh for four snatching incidents, with his wife Venkata Ramana for three snatching incidents, and with his sister-in-law Mogili Sandhya for three chain snatching incidents, bringing the total to 25 chain snatching offenses. Crime DCP Tirumaleswara Reddy, Crime ADC P M Raja Rao, ACP Venkateswarlu,Inspector Ram Kumar, and other police personnel were present.
