Dollar hits record high, gold value takes off by Rs2,700 per tola
ISLAMABAD/KARACHI: The US dollar proceeded with its upward direction against the Pakistani rupee on Friday. In the open market, the dollar expanded by Rs4 to reach Rs157.50. The US dollar ascended by Rs2.94 in the interbank market to reach Rs155.84.
In the interim, as per Karachi Sarafa Association, the per tola cost of 24 karat gold taken off by Rs2,700 on Friday and was exchanged at Rs75,900 when contrasted with the last shutting at Rs73,200. The cost of 10 gram gold likewise seen increment of Rs2,315 and was exchanged at Rs65,072 against Rs62,757 of a day ago.
In the interim, the National Electric Power Regulatory Authority (Nepra) on Friday reported increment in power duty of Rs1.4902 per unit to gather Rs189.638 billion from power shoppers over next fifteen months.
This is second time increment in duty, as the administration had expanded power levy by normal Rs1.27/unit in January 2019 by virtue of limit installments and after that decreased the swelling power part round obligation which is as of now at around Rs1.4 trillion.
A senior authority of the Regulator revealed to The News that they have sent this assurance to the administration (Power Division) which would advise it for execution. He, be that as it may, said that as the administration needs to bring the swelling round obligation down which is in many billions of rupees — a disturbing variable for the legislature combined with weight from the IMF — the administration would before long inform it and from July 2019, it would be charged from the customers.
The controller has proposed the administration to pass this effect to all purchasers, including of under 300 unit/month; anyway help shoppers up to 50 units/month would be spared from this expansion. He said that now, it would be up to the administration that whether it is passing this effect on to under 300 units' shoppers and zero evaluated industry.
On the off chance that the administration chooses not to pass this effect to purchasers of under 300 unit and zero evaluated industry or others, the legislature would finance them from its kitty.
The legislature has as of late declared inBudget 2019/20 around Rs250 billion endowment for power area in next financial. The state serve for income while declaring the financial backing stated, "Endowment to low power buyers – Around 75 percent of complete power shoppers utilize under 300 units of power in a month. Government will give power to them at the rate lower than the expense of age."
Of the complete power area endowment, Rs191 billion has been distributed for allowing appropriation to power organizations (barring K-Electric) that incorporate Rs162 billion for covering duty differential cases of Discos, Rs8 billion for agribusiness cylinder wells in Balochistan, Rs18 billion for Wapda to pick receivables from consolidated regions in KP.
For K-Electric Rs59.5 billion sponsorship has been reserved for 2019/20, that incorporates Rs25 billion to get the utility's tax differential, Rs24 billion appropriation to LNG area for giving gas on lower rates to mechanical division and another Rs10 billion to K-Electric for modern help bundle.
The state-run ten circulation organizations (Discos) would need to gather this Rs189.638 billion from shoppers during this 15-month time. This expansion has been reported to recuperate the ex-Wapda appropriation organizations' changes by virtue of variety power price tag (PPP), including effect of transmission and circulation (T&D) misfortunes, limit charges and variable task and upkeep (O&M) charges for the initial two quarters (July-Sept and Oct-Dec 2018) of the active financial 2018/19.
As indicated by the choice of the Nepra, in 15 months after notice by the administration, gathering from Lesco would be Rs38.292 billion, Mepco (Rs34.633 billion), Fesco (Rs26.894 billion), Pesco (Rs25.12 billion), Iesco (Rs18.427 billion), Gepco (Rs15.853 billion), Hesco (Rs11.984 billion), Qesco (Rs10.39 billion), Sepco (Rs6.593 billion) and Rs1.453 billion from Tesco.
The expert in its choice has likewise given past changes. The Authority decided taxes for seven Discos for the FY 2016-17 and FY 2017-18 exclusively under the Single Year Tariff Regime (SYT), alongside quarterly modifications of Power Purchase Price (PPP) for the initial two fourth of FY 2017-18. In this manner, the Authority through its choices in the matter of occasional changes permitted the effect of variety in PPP and over/under recuperation of permitted Distribution Margin (D.M) for the staying two fourth of the FY 2017-18 as Prior Year Adjustments (PYA). So also, for Discos under the MYT routine, for example Fesco, Lesco and Iesco, the Authority through its choices with respect to modification in levy segments for the FY 2016-17 and FY 2017-18 permitted PPP varieties for the FY 2017-18, and under/over recuperation of the permitted Distribution Margin for the FY 2016-17 and FY 2017-18, as PYA. The equivalent were hinted to the central government for warning in the official Gazette.
Be that as it may, the central government recorded a movement against it for suggestion of uniform purchaser end levy at national dimension, which was chosen by the Authority on December 19, 2018. The administration at that point informed it at Rs1.27/unit on January 01, 2019 compelling from said date.
The current purchaser end levy relating to FY 2016-17 and FY 2017-18 informed by the government vide SRO.1(I)/2019 to SRO.12(I)/2019 dated January 01, 2019, incorporates all the Quarterly changes up to 30th June 2018.
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| Dollar hits record high, gold value takes off by Rs2,700 per tola |
In the interim, as per Karachi Sarafa Association, the per tola cost of 24 karat gold taken off by Rs2,700 on Friday and was exchanged at Rs75,900 when contrasted with the last shutting at Rs73,200. The cost of 10 gram gold likewise seen increment of Rs2,315 and was exchanged at Rs65,072 against Rs62,757 of a day ago.
In the interim, the National Electric Power Regulatory Authority (Nepra) on Friday reported increment in power duty of Rs1.4902 per unit to gather Rs189.638 billion from power shoppers over next fifteen months.
This is second time increment in duty, as the administration had expanded power levy by normal Rs1.27/unit in January 2019 by virtue of limit installments and after that decreased the swelling power part round obligation which is as of now at around Rs1.4 trillion.
A senior authority of the Regulator revealed to The News that they have sent this assurance to the administration (Power Division) which would advise it for execution. He, be that as it may, said that as the administration needs to bring the swelling round obligation down which is in many billions of rupees — a disturbing variable for the legislature combined with weight from the IMF — the administration would before long inform it and from July 2019, it would be charged from the customers.
The controller has proposed the administration to pass this effect to all purchasers, including of under 300 unit/month; anyway help shoppers up to 50 units/month would be spared from this expansion. He said that now, it would be up to the administration that whether it is passing this effect on to under 300 units' shoppers and zero evaluated industry.
On the off chance that the administration chooses not to pass this effect to purchasers of under 300 unit and zero evaluated industry or others, the legislature would finance them from its kitty.
The legislature has as of late declared inBudget 2019/20 around Rs250 billion endowment for power area in next financial. The state serve for income while declaring the financial backing stated, "Endowment to low power buyers – Around 75 percent of complete power shoppers utilize under 300 units of power in a month. Government will give power to them at the rate lower than the expense of age."
Of the complete power area endowment, Rs191 billion has been distributed for allowing appropriation to power organizations (barring K-Electric) that incorporate Rs162 billion for covering duty differential cases of Discos, Rs8 billion for agribusiness cylinder wells in Balochistan, Rs18 billion for Wapda to pick receivables from consolidated regions in KP.
For K-Electric Rs59.5 billion sponsorship has been reserved for 2019/20, that incorporates Rs25 billion to get the utility's tax differential, Rs24 billion appropriation to LNG area for giving gas on lower rates to mechanical division and another Rs10 billion to K-Electric for modern help bundle.
The state-run ten circulation organizations (Discos) would need to gather this Rs189.638 billion from shoppers during this 15-month time. This expansion has been reported to recuperate the ex-Wapda appropriation organizations' changes by virtue of variety power price tag (PPP), including effect of transmission and circulation (T&D) misfortunes, limit charges and variable task and upkeep (O&M) charges for the initial two quarters (July-Sept and Oct-Dec 2018) of the active financial 2018/19.
As indicated by the choice of the Nepra, in 15 months after notice by the administration, gathering from Lesco would be Rs38.292 billion, Mepco (Rs34.633 billion), Fesco (Rs26.894 billion), Pesco (Rs25.12 billion), Iesco (Rs18.427 billion), Gepco (Rs15.853 billion), Hesco (Rs11.984 billion), Qesco (Rs10.39 billion), Sepco (Rs6.593 billion) and Rs1.453 billion from Tesco.
The expert in its choice has likewise given past changes. The Authority decided taxes for seven Discos for the FY 2016-17 and FY 2017-18 exclusively under the Single Year Tariff Regime (SYT), alongside quarterly modifications of Power Purchase Price (PPP) for the initial two fourth of FY 2017-18. In this manner, the Authority through its choices in the matter of occasional changes permitted the effect of variety in PPP and over/under recuperation of permitted Distribution Margin (D.M) for the staying two fourth of the FY 2017-18 as Prior Year Adjustments (PYA). So also, for Discos under the MYT routine, for example Fesco, Lesco and Iesco, the Authority through its choices with respect to modification in levy segments for the FY 2016-17 and FY 2017-18 permitted PPP varieties for the FY 2017-18, and under/over recuperation of the permitted Distribution Margin for the FY 2016-17 and FY 2017-18, as PYA. The equivalent were hinted to the central government for warning in the official Gazette.
Be that as it may, the central government recorded a movement against it for suggestion of uniform purchaser end levy at national dimension, which was chosen by the Authority on December 19, 2018. The administration at that point informed it at Rs1.27/unit on January 01, 2019 compelling from said date.
The current purchaser end levy relating to FY 2016-17 and FY 2017-18 informed by the government vide SRO.1(I)/2019 to SRO.12(I)/2019 dated January 01, 2019, incorporates all the Quarterly changes up to 30th June 2018.
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