Pakistan’s Power Division has revealed the details of the government’s power package for the past three months, during which the industrial and agricultural sectors have used an additional 23% of electricity. According to the Power Division, during this period, both sectors have collectively used an additional 2,164 gigawatts of electricity, resulting in a total financial benefit of Rs 20 trillion 83 billion to the industries and agriculture. The industrial consumers have benefited by Rs 19 trillion 60 billion, while the agricultural sector has earned a benefit of Rs 11 billion 14 million.
The data shows that the B-Three category of industrial consumers has benefited the most, earning Rs 8 trillion 76 billion, followed by B-Two consumers who have earned Rs 5 trillion 34 billion, and B-Four consumers who have earned more than Rs 4 trillion. The B-One category of consumers have earned Rs 1 trillion 48 billion in the past three months. In terms of electricity usage, the B-One industrial consumers have topped the list with 27%, followed by B-Four with 25%, B-Two with 24%, B-Three with 22%, and the agricultural sector with 21%.
In the large industrial sector, 52% of B-Three, 48% of B-Two, and 43% of B-One consumers have benefited from the package, while 34% of agricultural consumers have also benefited from the scheme. According to the Power Division, under the package, 12% and 11% additional electricity was used in January and February, respectively. The government claims that this initiative has encouraged industries to rely on the national grid instead of expensive means of generating electricity, resulting in an overall improvement in the energy system’s performance.
The prices of LPG have increased, with a kilo of LPG being sold for Rs 200 more than the government’s rate. The district-wide price of LPG has reached Rs 530 per kilo. The Pakistan Stock Exchange (PSX) has seen a decline of 1,308 points in the previous business week, closing at 15,039.8. The Vice-Chairman of the All Pakistan Petrol Pump Association, Noman Butt, has expressed concerns about the increase in the prices of petroleum products. The Federal Bureau of Statistics has released a weekly report on inflation, and the gold prices have increased in the currency markets across Pakistan. The possibility of increasing air fares has increased after the increase in the prices of fuel. The Chairman of the Pakistan Public Transport Owners Association has demanded that the government roll back the increase in the price of diesel.
According to the data, during the period from July to March, there was an 8% decline in exports. The State Bank of Pakistan has made a significant decision to strengthen the financially weak youth of the country. The gold prices have increased in the currency markets across Pakistan. The closure of the Strait of Hormuz due to the ongoing war in the Middle East has resulted in a significant increase in the costs of trade worldwide.
The British magazine ‘The Economist’ has listed the countries that will face ‘extremely painful consequences’ due to the global oil crisis caused by the ongoing war in the Middle East. US President Donald Trump has said that he is considering a plan to seize Iran’s oil, warning that one will see American pilots being rescued from Iran.
Amir of Jamaat-e-Islami Pakistan Hafiz Naeem ur Rahman has announced that he will cooperate in the judicial proceedings with am Rabbab Chandio.
According to a report by the Emirates media, the global aviation industry is under pressure due to the conflict in the Gulf. Airlines worldwide have increased their fares.
