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Express Tribune
4 days ago
- Business
- Express Tribune
Govt challenges K-Electric tariff in NEPRA review
Additional concerns were raised over capacity payments to K-Electric's power plants, projected to cost over Rs 82b. PHOTO: FILE Listen to article The federal government has filed a formal review petition with the National Electric Power Regulatory Authority (NEPRA) challenging the tariff set for K-Electric, expressing strong reservations over what it calls an unfair financial burden on both the national treasury and power consumers. In its submission, the Ministry of Energy argued that the tariff granted to K-Electric for electricity sourced from the national grid is disproportionately high compared to other power distribution companies. The ministry warned that this elevated rate could impose an estimated Rs59 billion burden on the federal budget over the next two years. The petition also objected to the inclusion of recovery losses in K-Electric's tariff, stating that this would result in an additional Rs200 billion being passed on to consumers over a seven-year period. The government expressed concerns over what it described as preferential treatment. It pointed out that NEPRA approved a 13.90% loss threshold for K-Electric—exceeding the company's actual demand—and granted a special law and order margin of 2%, not extended to other companies. Furthermore, the petition criticised the approval of a 12% return on equity in US dollars, which is expected to add another Rs37 billion burden during the current tariff period. Additional concerns were raised over capacity payments to K-Electric's power plants, projected to cost over Rs82 billion. According to the Ministry of Energy, NEPRA's decision could lead to a significant rise in electricity bills for Karachi consumers and may set a precedent for a 'dual system' that favours one provider over others. The federal government has requested NEPRA to ensure uniform treatment across all power distribution companies in Pakistan, emphasising fairness and economic sustainability.
Time of India
20-05-2025
- Time of India
Principal and teacher booked after nursing student ends life in Nanded
Chhatrapati Sambhajinagar: A case of abetment to suicide has been registered against the principal and a teacher of a nursing college in Nanded after the death of a 22-year-old nursing student. The deceased, Punit Vinod Watkar, allegedly jumped into the Godavari River owing to harassment over unpaid fees. Punit was the only son of elderly farmer parents from Shirsoli of Ashti. He was a third-year nursing student at the institute, attending alongside his twin sister Shweta. Based on Shweta's complaint to the Nanded Rural police station, an FIR for abetment to suicide and criminal intimidation was registered against the suspects. According to the police, Watkar was under stress as he owed an outstanding fee balance of Rs37,000, including tuition and donation charges, for the current academic year. Shweta, while talking to TOI, said, "We were studying in the same class. Our fees for this year were yet to be paid, and in an attempt to recover it the suspects were threatening to fail us." Based on Shweta's complaint, the Nanded Rural police booked the principal and the lecturer. The complaint states that Watkar was repeatedly humiliated in the class.
Business Recorder
16-05-2025
- Business
- Business Recorder
Pakistan issues Rs30bn Green Sukuk to fund renewable projects
Pakistan on Friday launched its first Sovereign Domestic Green Sukuk worth Rs30 billion at the Pakistan Stock Exchange (PSX), pushing the share of Shariah-compliant financing in the country's total domestic debt to 14%, announced Finance Minister Muhammad Aurangzeb. Pakistan's domestic debt stands at Rs37 trillion, of which Rs5 trillion—approximately 14%—is Sukuk-based debt. Addressing the event via video link, Aurangzeb said the Sukuk reflects growing investor confidence in Pakistan's economy and the capital market. Based on an Ijarah structure, the three-year Sukuk will carry a variable rental rate and is being issued under the Sustainable Investment Sukuk framework. Green Sukuk The bidding process was ongoing on Friday morning at the time of filing this report. The Sukuk will be listed and tradable on the PSX. Proceeds will be utilised to fund eligible green energy projects, including the construction of three dams. Meezan Bank is acting as the lead Joint financial advisor, along with Dubai Islamic Bank, Bank Islami, and Alfalah Islamic. The auction is open to local retail, institutional, and corporate investors, as well as to non-resident Pakistanis (NRPs), Roshan Digital Account holders, and foreign investors. The launch coincided with Youm-e-Tashakur (Thanksgiving Day), as the PSX opened after reaching an all-time high of 119,961.91 points a day earlier. 'The best is yet to come for both PSX and Pakistan,' Aurangzeb said, highlighting investor optimism, including among global investors he met recently in London. Green Sukuk auction on 16th The finance minister noted that international investors have shown interest in Pakistan, provided the country maintains macroeconomic stability and continues reforms in energy, taxation, and state-owned enterprises. Aurangzeb added that the government is in consultation with stakeholders to present a promising budget for FY26.
Express Tribune
09-05-2025
- Politics
- Express Tribune
Punjab cabinet reviews security amid regional tensions
The 27th meeting of the Provincial Cabinet Committee on Law and Order was held at the Punjab Home Department under the chairmanship of Provincial Health Minister and Committee Chairman Khawaja Salman Rafiq. The session was convened to assess the province's law and order situation in light of recent national developments. The meeting was attended by Provincial Ministers Malik Sohail Ahmad Bharath, Bilal Akbar Khan, and Syed Ashiq Hussain Kirmani (via video link), along with senior government officials including Secretary Home Noorul Amin Mengal, Secretary Emergency Services Dr Rizwan Naseer, and Additional IG Punjab Chaudhry Sultan. Representatives from the Counter Terrorism Department (CTD), Special Branch, and other relevant departments were also present. The committee strongly condemned the recent unprovoked aggression by India, which resulted in the loss of innocent civilian lives, including women and children. Khawaja Salman Rafiq Chairman commended Pakistan's security forces for their swift defensive response, including the reported shooting down of 25 Indian drones on May 8. Several important decisions were made during the session to bolster provincial preparedness and public welfare. These included the approval of parole for four inmates based on good conduct, the allocation of Rs37 million to strengthen the Punjab Forensic Science Agency, and the procurement of essential safety gear for civil defence personnel. Law enforcement officials briefed the committee on intensified security arrangements across Punjab. The Central Control Room is now operational round the clock ensuring coordinated surveillance and response efforts among all security agencies. In line with the chief minister's directives, mass civil defence training programs are being held daily for citizens and students, while mock drills by police and rescue teams continue to prepare for emergency scenarios. The health department was directed to ensure full availability of life-saving medicines and medical staff in all government hospitals, reflecting the province's proactive approach to crisis readiness. Khawaja Salman Rafiq reiterated the government's commitment to protecting the lives and property of citizens, applauding the strong unity between the public and state institutions. He also emphasized the need for enhanced inter-departmental coordination to ensure effective and timely response in the face of any threat.
Business Recorder
02-05-2025
- Politics
- Business Recorder
PML-N organises workers' convention on Labour Day
LAHORE: Speakers at a workers convention organized by the Pakistan Muslim League (N) Labour Wing, here at Alhamra Hall in connection with the May Day, expressed firm resolve to safeguard the rights of labour community. Federal Minister for Poverty Alleviation and Social Protection Syed Imran Ahmed Shah, Punjab Minister for Labour and Human Resource Malik Faisal Ayub Khokhar, MNA Shumaila Rana, President of PML-N Labour Wing Syed Muhammad Mushtaq Hussain and Secretary General Chaudhry Sajjad Ahmed addressed the convention. Speaking on the occasion, Federal Minister Syed Imran Ahmed Shah said that the PML-N is a pro-labour party, and the welfare of the working class is our top priority. 'The remarkable initiatives of Chief Minister Punjab Maryam Nawaz for workers' welfare are commendable. Punjab, being the most populous province with a vast labour force, is leading by example in protecting workers' rights in a meaningful way,' he said, adding: 'India must know that if it dares cast an evil eye on Pakistan, it will face a fierce response. Every Pakistani stands united like a wall with our armed forces.' He also offered special prayers for the oppressed people of Gaza, Palestine, and Kashmir. Punjab minister Malik Faisal Ayub Khokhar, while addressing the convention, said the leadership of PML-N, especially Maryam Nawaz Sharif, strongly believes in practical measures for the welfare of workers. 'We have not only committed to improving workers' living standards but have also taken concrete actions to deliver on that promise,' he said. He said the launch of the Maryam Nawaz Ration Card Programme, aimed at benefiting 1.2 million workers and 8.4 million dependents, offering a monthly subsidy of Rs3,000 is commendable. He shared that new social security hospitals are being established in Rahim Yar Khan, Sargodha, and Kasur, while Maryam Nawaz Wellness Centers are being set up in Lahore, Islamabad, and Faisalabad. Other major initiatives included Teleclinics and a 200-bed Cardiac City, Modern ambulances for 27 hospitals, minimum wage raised to Rs37,000 per month while 720 worker flats completed in Sunder (Phase I) and 504 in Taxila, with more projects underway, launching of an Online Complaint Cell, 1314 Helpline, Online Open Court, and Ease of Doing Business Portal. Syed Muhammad Mushtaq Hussain, President of the Labour Wing, emphasized unity in advocating for workers' rights and said that the convention reflects the trust of workers in PML-N's leadership. MNA Shumaila Rana and other speakers also addressed the gathering and paid tribute to the Punjab government and the leadership of Pakistan Muslim League (N) for their revolutionary steps. They expressed the hope that Punjab's labour welfare policies would be expanded nationwide. Copyright Business Recorder, 2025
