The case of unsolved circular debts will lead to major oil crises says Parco and PSO. This is a long pending issue and government should now step up to play its role in resolving before it becomes the reason of further loss to the economy. The business recorder news item gives the details.
The country’s oil sector’s largest giants, Pak Arab Refinery Limited (Parco) and Pakistan State Oil (PSO), have warned the government of an imminent massive oil crisis due to the unresolved circular debt problem and have urged it to arrange funds for import of petroleum products, Business Recorder has learnt reliably.
Parco has urged the government to arrange funds via PSO to save it from default on account of Letter of Credits (L/Cs) for the import of crude oil. Parco revealed that its bank borrowing was rising due to non-payment of dues by PSO with Rs 145.4 billion receivables against different clients on Thursday morning.
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Oil, PSO, Pakistan, WAPDA
oil, Pakistan, PARCO, PSO
For the electricity traiffs the limit is beyond the skys. What new comes in is differentiated power tariff to be implemented from September 1. The Tribune gives the details:
The federal government has introduced differentiated tariffs for electricity consumers, to be implemented on bills sent after September 1.
Based on time-of-use metering, the move would translate into a reduction from 4 paisa to 48 paisa per kilowatt hour (p/kWh) for different consumer categories.
According to a notification, the current tariffs will be maintained for peak hours while the reduction will be applicable on off-peak hours for residential, commercial, industrial and bulk users.
The reductions in off-peak tariffs are as follows: 48 paisa per kWh for residential, 24 paisa per kWh for commercial, 10 paisa per kWh for B1 and 24 paisa per kWh for B2 industrial consumers. For bulk consumers, the reduction is four paisa per kWh and 14 paisa per kWh for C-1B and C-1C categories respectively. For street lighting, the reduction is 29 paisa per kWh.
Will this reduction matter much for the consumers?
Electricity, Energy, KESC, Pakistan, WAPDA
electricity, government, KESC, Pakistan, tariff, WAPDA
The National Electric Power Regulatory Authority (Nepra) allowed on Tuesday a 26 paisa per unit increase in power tariff for consumers of nine distribution companies of Wapda from August 31 on account of monthly fuel cost adjustment.
A Nepra official told Dawn that power companies had sought an increase of 52 paisa per unit under the fuel adjustment formula for July.
But the power regulator allowed an increase 26 paisa and turned down the rest sought on account of system losses, late payments and overall circular debt.
The official said that Nepra had sent its determination to the federal government for notification. The new tariff will be recovered from consumers in the next billing month. The new tariff will not apply to KESC whose fuel-based tariff adjustment will be made separately.
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Electricity, Energy, KESC, Pakistan, WAPDA
electricity, KESC, nepra, power, WAPDA
