ISLAMABAD: Pakistan’s inflation rate has witnessed a decline of 0.15% in the last week of Ramadan, according to the Pakistan Bureau of Statistics, ARY News reported.
The statistics bureau reported that the overall annual inflation rate currently stands at 1.26% and the prices of 10 essential items increased, while 10 items saw a decrease in prices.
Notably, the price of tomatoes surged by 7.15 rupees per kilogram, while the price of LPG cylinders decreased by 38.61 rupees. Other items that saw a decline in prices include potatoes, chicken, sugar, wheat, and eggs.
On the other hand, prices of beef and ghee increased by 3.17 rupees and 1.44 rupees per kilogram, respectively. However, the prices of 31 items remained stable during the week, providing some relief to consumers.
Earlier, Pakistan’s Ministry of Finance released its monthly economic outlook, revealing a mixed bag of trends.
In its monthly Economic Outlook report, the Ministry stated that the country has seen an increase in remittances, exports, imports, and tax revenue, which is a positive sign for the economy.
However, the report also notes that inflation is expected to rise by 1-1.5% in March and 2-3% in April. Furthermore, prices of essential items like chicken, dairy, and vegetable oil increased in February, with inflation rising from 8.2% to 9.7%.
The report highlights that the country’s large-scale manufacturing output decreased by 1.78% from July to February. On the other hand, foreign investment increased by 11.8% on a year-on-year basis, although it declined by 67.5% in February.
Remittances also saw a significant 32.5% increase from July to February. The report further highlights that exports grew by 7.2% and imports by 11.4% during the current fiscal year. The current account deficit also narrowed, while the value of the rupee slightly decreased.
The Pakistan government has moved the National Electric Power Regulatory Authority (NEPRA) for an electricity tariff cut, ARY News reported on Friday.
As per details, the Pakistan federal government submitted a request to the National Electric Power Regulatory Authority (NEPRA) for a reduction of Rs.1.71 per unit in electricity tariff cut.
According to the proposal, the reduction will be facilitated through a tariff subsidy. NEPRA is set to hold a hearing on the matter on April 4.
The government has requested that the price cut be applicable to all distribution companies, including K-Electric, with the proposed subsidy in effect from April to June 2025.
Earlier, the International Monetary Fund (IMF) shared update on electricity tariff relief for consumers in Pakistan following, staff-level agreement with Islamabad to unlock $1.3bln loan tranche.
As per details, Pakistan’s IMF Mission Representative, Maher Bennisy during informal media talk, said the fund has approved for a reduction of Rs1 per unit in electricity tariffs for all consumers in Pakistan.
Bennisy stated that the relief will be financed through revenue generated from levies imposed on gas consumption by captive power plants.
He further revealed that the government is actively working on a broader electricity relief package, which will be announced after formal IMF approval.
It is to be noted that PM Shehbaz Sharif earlier announced to provide relief to the power consumers in Pakistan.
Pakistan all set to enter the satellite internet spectrum as Starlink, a global satellite internet provider, has obtained a No Objection Certificate (NOC) to launch services in Pakistan, ARY News reported.
According to sources, Starlink has fulfilled all the requirements set by the regulatory board, the NOC was issued by Pakistan Space Activities Regulatory Board after clearance from the Interior Ministry.
Sources revealed that the Pakistan Telecommunication Authority (PTA) is also expected to issue a license to Starlink within the next two weeks.
Starlink has already submitted its technical and business plans to the PTA and has registered with the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Software Export Board.
The company has completed three stages of registration in Pakistan, with the final stage being the issuance of a license by the PTA.
Once the license is issued, Starlink will be able to launch its services in Pakistan, providing high-speed internet connectivity to remote and underserved areas. The company’s services are designed to be seamless and will not disrupt existing networks.
Pakistan introduced its National Satellite Policy in 2023 and Space Activities Rules in 2024 to strengthen space communication.
Pakistan’s IT Minister on Starlink
Commenting on the development, Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja said that Starlink has been granted temporary registration in Pakistan following the directives of Prime Minister Shehbaz Sharif.
In a statement, the minister said, “With the consensus of all security and regulatory bodies, Starlink has been issued a temporary No Objection Certificate (NOC).”
She added that the Pakistan Telecommunication Authority (PTA) would oversee compliance with fee payments and other licensing requirements by the company.
Shaza Fatima said that, under Prime Minister Shehbaz Sharif’s leadership, Pakistan is making significant strides towards digital transformation.
“The Prime Minister has directed comprehensive reforms to enhance Pakistan’s internet infrastructure, and Starlink’s registration is a major step forward in this journey,” she added.
Calling the approval for satellite-based internet services a milestone, the minister said, “Modern solutions like satellite internet will greatly enhance connectivity, particularly in underserved and remote areas of the country.”
She highlighted that the government adopted a “whole-of-government” approach, working in close collaboration with all relevant institutions to facilitate Starlink’s registration process. In this regard, she acknowledged the pivotal roles played by cybercrime and security agencies, the PTA, and the Space Authority.
Shaza Fatima expressed optimism that Starlink’s entry into Pakistan would formally launch satellite internet services, marking a new era in the country’s digital connectivity and bridging the digital divide.
Starlink
Starlink is a satellite internet constellation developed by SpaceX, a private aerospace manufacturer and space transport services company founded by Elon Musk. The constellation aims to provide fast, reliable, and global internet connectivity through a network of thousands of small satellites in low Earth orbit (LEO).
This innovative technology has the potential to revolutionize the way we access the internet, especially in remote and underserved areas where traditional fiber-optic and cellular networks are limited or unavailable.
The Starlink constellation is designed to offer high-speed internet connectivity with latency as low as 20 ms, which is comparable to or even better than many existing fiber-optic networks.
Each Starlink satellite is equipped with a phased array antenna that allows it to communicate with multiple users simultaneously, providing a high-capacity and flexible network. With Starlink, users can enjoy fast and reliable internet access from virtually anywhere in the world, making it an exciting development for global connectivity and digital inclusion.
Seven Independent Power Producers (IPPs) and the Central Power Purchasing Agency (CPPA) have filed petitions seeking a revision in electricity tariffs in Pakistan, ARY News reported on Tuesday.
As per details, the petitions have been submitted by IPPs established under the 2002 Power Policy.
Among the applicants are Nishat Chunian Power, Nishat Power, and Narowal Energy Limited. Liberty Power Tech Limited, Engro Powergen Qadirpur Limited, Sapphire Electric Power Limited, and Saif Power Limited have also requested tariff adjustments.
NEPRA is set to conduct a hearing on March 24 to review the IPPs’ requests.
The hearing will assess revisions in the methodology concerning the exchange rate differential between the Pakistani Rupee and the US Dollar.
Additionally, the Take-or-Pay system’s payment structure will be examined, along with a review of the 0.90% insurance cap on EPC costs.
On March 3, Federal Minister for Power Sardar Awais Leghari attended a detailed session with Power Sector International Development Partners on power sector reforms and their future direction.
The development partners were led by World Bank Country Director Mr. Najy Benhassine, included representatives from the IMF, ADB, IFC, KFW, German Embassy, FCOD, UNDP, and AIIB.
The federal Minister Awais Leghari briefed participants on the reforms implemented by the power division to improve efficiency and discipline.
The minister highlighted efforts to make electricity prices more competitive and affordable, particularly for industries.
ISLAMABAD:Pakistan’s water reservoirs have reached critical levels, with the Mangla Dam water level dropping to the “dead level,” leading to the suspension of hydroelectric power production, ARY News reported on Sunday.
According to a WAPDA spokesperson, the Mangla Dam is now at its minimum operating level.
Tarbela Dam stands just two feet above its dead level, while Chashma Barrage is only one foot above. Consequently, Mangla Dam has ceased power production due to the lack of water.
Current Reservoir Levels:
Tarbela Dam: Water level at 1404.93 feet (minimum operating level: 1402 feet, maximum storage level: 1550 feet). Current water storage is 14,000 acre-feet.
Mangla Dam: Water level at 1050 feet (minimum operating level: 1050 feet, maximum storage level: 1242 feet). Current water storage is 72,000 acre-feet.
Chashma Barrage: Water level at 639.30 feet (minimum operating level: 638.15 feet, maximum storage level: 649 feet). Current water storage is 17,000 acre-feet.
At Tarbela, the Indus River inflow is 19,600 cusecs, while outflow is 20,000 cusecs.
At Nowshera, Kabul River inflow and outflow are both 14,600 cusecs.
At Mangla, the Jhelum River inflow is 19,800 cusecs and outflow is 19,900 cusecs.
At Marala, the Chenab River inflow is 16,600 cusecs, while outflow is 11,900 cusecs.
Other barrages such as Jinnah, Chashma, Taunsa, Guddu, Sukkur, and Kotri are also witnessing varying inflow and outflow levels, further reflecting the declining water availability.
The severe water shortage highlights Pakistan’s ongoing struggles with water management and climate change impacts.
The reduction in water levels not only affects power production but also has significant implications for agriculture and drinking water supply.
Experts have been urging authorities to implement sustainable water conservation and storage strategies to address this crisis.
Additionally, Pakistan’s dependency on hydroelectric power means that such shortages can worsen energy shortfalls, especially during peak demand seasons.
The situation underscores the urgent need for sustainable water resource management and diversification of the energy mix to reduce reliance on hydroelectricity.
Developing renewable energy sources like solar and wind, along with improving energy conservation practices, could mitigate the risk of energy crises caused by water shortages.
This dual approach could help Pakistan ensure a more stable and resilient energy future.
ISLAMABAD: Pakistan’s two major dams, Tarbela and Mangla, are approaching dead levels, said the Indus River System Authority (IRSA), ARY News reported
According to IRSA, provincial governments have been alerted about the critical water situation, and a new water distribution framework has been issued to manage the remaining Rabi season.
The authority estimates a 30 to 35 percent water shortage during the rest of the season, which will significantly impact Punjab and Sindh.
IRSA has stated that only the amount of water received in the dams will be released further, and provincial irrigation departments have been directed to take immediate measures.
The authority also mentioned that rainfall could improve the situation, but if dry conditions persist, Tarbela and Mangla could reach dead levels within three to four days.
Currently, Tarbela Dam’s water level stands at 1,409.50 feet, while its dead level is 1,402 feet. Meanwhile, Mangla Dam’s water level is at 1,088.45 feet, nearing its dead level of 1,050 feet.
IRSA’s spokesperson revealed that Punjab has already faced a 20 percent water shortage during the current Rabi season, while Sindh has endured a 16 percent shortage.
At present, Sindh’s water demand stands at 27,000 cusecs, while it is receiving 25,000 cusecs. Punjab’s demand is 45,000 cusecs, with 40,000 cusecs being supplied.
Authorities remain hopeful that upcoming rains could ease the crisis; however, they continue to monitor the situation closely.
Earlier, four people died and nine got injured in various incidents in recent spell of rainfall in Khyber Pakhtunkhwa.
Provincial Disaster Management Authority (PDMA) Khyber Pakhtunkhwa has reported four deaths, and nine persons sustained injuries in current wet spell in the province.
At least 14 houses were also damaged in the rainfall, PDMA said. The rain-related incidents took place in Haripur, Buttgram, Bajaur, Kohistan, Dir, Hangu, Khyber and Torghar districts of KP, according to the report.
Heavy rainfall with gusty winds lashed Buner, Malakand, Nowshera, Mohamand, Lakki Marwat and adjoining areas, intensifying frosty weather.
Snowfall continuing in Swat, Mansehra and various areas of Chitral district including the region adjacent to Lowari tunnel.
Police said that Karakoram Highway has been blocked after landsliding at two points in upper Kohistan.
A westerly wave has entered in northern parts of Baluchistan bringing rainfall and intensifying cold weather in Chaman and adjoining areas.
Qilla Abdullah, Gulistan, Jungle Pir Ali and Toba Achakzai has also received rainfall.
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has reduced the power tariff by up to Rs3 per unit on account of Fuel Charge Adjustment (FCA).
According to notifications, a reduction of Rs2.12 per unit has been announced for consumers of government-owned DISCOs. Additionally, a price reduction of Rs3 per unit has been approved for K-Electric consumers.
The benefit of reduction in electricity prices will be passed on to customers in their March 2025 bills.
The refunds were approved for Discos’ consumers for January 2025 and KE’s users in December 2024.
Fuel Charge Adjustments are incurred by utilities due to global variations in fuel prices used to generate electricity and changes in generation mix. These costs are passed through to the consumers following NEPRA’s scrutiny and approval.
As per the Regulatory Authority’s decision, the FCA shall be applicable to all the consumer categories except Electric Vehicle Charging Stations (EVCS), lifeline consumers, prepaid metering consumers, and agricultural consumers.
Earlier, The Central Power Purchasing Agency Guarantee Limited (CPPA-G) moved the application for the lowering power tariff, proposing a refund of Rs2.32 per unit to power consumers, reflecting a fuel charges adjustment for January 2025.
According to the petition, the CPPA said over 7.8160 billion units of electricity were produced in January, with the reference fuel charges billed to consumers were Rs13.1/unit, while the actual cost amounted to Rs10.78 per unit.
The CPPA-G has requested that the Rs2.32 difference be refunded to consumers through their electricity bills.
K-Electric (KE) also filed a petition with the NEPRA for Rs4.95 per unit power tariff cut.
K-Electric proposed refund comes after the utility charged higher per unit electricity rates in December 2024.
ISLAMABAD: In a major breakthrough in local resource exploration, Mari Petroleum has announced the discovery of new oil and gas reserves in the Waziristan Block.
According to Mari Petroleum, the company is the lead operator in the Waziristan Block, holding a 55% stake. The discovery is expected to boost the country’s hydrocarbon resources.
The newly drilled Spinam-1 well is set to produce 12.96 million cubic feet of gas per day along with 20 barrels of condensate daily. Drilling at the site began on May 28, 2024.
The joint venture also includes OGDCL and OPI, with Mari Petroleum reaffirming its commitment to further hydrocarbon exploration.
The company has acknowledged the support of national security institutions, federal, and provincial governments in facilitating this milestone.
ISLAMABAD: The federal government has planned to deregulate petroleum product prices, a move that has been met with resistance from the Pakistan Petroleum Dealers Association.
In a letter to Minister for Petroleum Musadik Malik, the association expressed concerns that deregulation would lead to an increase in the sale of smuggled Iranian oil and non-standard fuel in the country.
The association argued that deregulation would compromise the investments made by petroleum dealers, who have invested billions in the sector. They emphasized that any decision should be made in consultation with stakeholders, as was previously agreed upon.
Under the proposed plan, oil marketing companies (OMCs) would be allowed to sell fuel at competitive prices, enabling them to increase their market share. A price ceiling would be established to ensure price stability.
Additionally, the government plans to permit oil refineries to blend up to 5% ethanol in petroleum products to reduce fuel costs.
The Pakistan Petroleum Dealers Association has urged the minister to engage in talks with the association to address their concerns.
Talking to the media in Islamabad, Musadik Malik said that the federal cabinet has not approved the sale of a 15% stake in the Reko Diq mining project to Saudi Arabia, under an intergovernmental transaction agreement.
Petroleum Minister stressed that neither any state forum has approved the sale nor the deal has been finalized with Saudi Arabia yet, adding that talks with the Saudi government are ongoing in a positive manner.
Karachi power consumers are set to get big relief as the city’s power utility, K-Electric (KE) has filed a petition with the National Electric Power Regulatory Authority (NEPRA) for Rs4.95 per unit power tariff cut, ARY News reported on Wednesday.
K-Electric proposed refund comes after the utility charged higher per unit electricity rates in December 2024.
Under the monthly fuel charges adjustment (FCA) for December, the company wants to refund approximately Rs4.94 billion to its power consumers.
The regulator has scheduled a public hearing for February 26 to consider the KE request for a provisional negative FCA.
Earlier this month, prime Minister (PM) Shehbaz Sharif said that electricity tariffs would further be reduced for domestic consumers and industries through reforms in the electricity sector.
He expressed satisfaction with the current changes in the electricity sector, stating that they are producing great results, while chairing a review meeting of the sector in Islamabad on Friday.
PM Shehbaz said that he has pledged to guarantee the supply of affordable and sustainable power. He said revising agreements with IPPs is saving the national treasury and reducing electricity prices for consumers.
The Prime Minister made reference to the campaign against power theft and pledged to speed it up even further in order to completely eradicate the losses incurred by all distribution firms in this area.
