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Senate Standing Committee on Water and Power headed by Senator Iqbal Zafar Jhagra on Friday took K-Electric management to task for its questionable performance during the heatwave that claimed hundreds of lives and constituted a committee to probe the entire matter. During the standing committee meeting, National Electric Power Regulatory (Nepra) and K- Electric''s top management disagreed with the figures of generation, reliability of distribution and transmission systems and investment in infrastructure.

The National Electric Power Regulatory Authority (Nepra) has made electricity costlier by 20 to 80 per cent for domestic consumers of K-Electric by slashing the amount of subsidy as per agreement with the International Monetary Fund (IMF). The Ministry of Water and Power had submitted a request to the regulator to slash subsidy for K-E consumers. The impact of reduction in subsidy for domestic consumers will be between Rs 2 to Rs 4.28 per unit.
The International Monetary Fund (IMF) has expressed concern over the delay in the privatisation of power distribution companies and court challenges to power surcharges, saying this would set back the privatization program and increase the flow of their payables. In its Seventh Review under the Extended Arrangement and Modification of Performance Criteria released on Thursday, the government has committee to dispose of three out of seven DISCOs in current fiscal year to minimise the receivables of power companies.
The unannounced and prolonged load shedding in different areas of the metropolis has exposed the tall claims of K-Electric of providing uninterrupted power during Iftar and Sehri timings. But the power utility instead of facilitating its consumers has held the citizens responsible for power breakdown, saying that residents of various areas are involved in electricity theft through Kunda connections.
Prime Minister Nawaz Sharif has said overcoming terrorism and electricity shortage is the top priority of the government. He was talking to German Ambassador to Pakistan Dr Cyrill Nunn who called on him in Islamabad on Friday. The Prime Minister lauded German Ambassador for strengthening bilateral relations between the two countries. Meanwhile, it is reported that electricity shortfall has reached at least 4,400MW leading to increased hours of outages countrywide.
Electricity shortfall on Friday has reported to have reached at least 4,400 Mega Watt (MW) leading to increased hours of outages countrywide. At least 12-hour long outages are being carried out in rural while eight-hour long in urban areas. Sources report that the demand of electricity is 19,300 MW whereas the production is 14,900 MW. The shortfall has reached 4,400 MW due to increase in power demand.
Punjab Chief Minister Muhammad Shahbaz Sharif presided over a high level meeting here Friday which reviewed the progress on 1320 megawatt coal power project in Sahiwal. Federal Minister for Railways Khawaja Saad Rafique especially attended the meeting. Addressing the meeting, Shahbaz Sharif said that government is taking rapid steps for overcoming shortage of electricity.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln