Power outage triggers protest in Lahore
The total power generation of Pakistan Electric Power Company (PEPCO) has currently been recorded at 9,500 megawatt, while the demand has shot up to 15,500 megawatt, leaving a shortfall of 6,000 megawatt.
The duration of power outage in all major cities has been increased to 12 hours a day while in rural areas it has been increased to 18 hours.
Lahore Electricity Supply Company (LESCO) shut six grid stations in Lahore during the night between Sunday and Monday.
Various areas of the city suffered six to seven hours of power outage. People protested against the unscheduled load shedding of LESCO and chanted slogans against the authorities. The police was called to prevent an untoward incident.
The situation was no different in Karachi and in various areas of the city people spent the night with intermittent supply of power. According to the Karachi Electric Supply Corporation, the power supply was suspended due to a technical fault.
PIA increases fares for Umra up to Rs. 2,000
Pakistan International Airlines (PIA) has decided to increase the fares for Hajj and Umra. After the increase, Rs. 69,080 would be charged as Umra fare.
Meanwhile, after 6 percent increase, the Hajj package fare has been increased from 100,000 to 106,000 and short term Hajj fare has been increased from 120,000 to 1,27000.
According to the sources, PIA has devised a plan to increase Umra fares after every two weeks due to the increasing number of passengers.
State Bank increases discount rate by 14 percent
November 29, 2010 by Trend PK
Filed under World News
Staff Report
LAHORE: The State Bank of Pakistan has announced Monetary Policy for next two months on Monday, increasing the discount rate by 14 percent.
During the press conference, the director of State Bank Hamza Ali Malik told media that discount rate has been increased to control inflation.
AGENCIES ADD: Pakistan’s central bank on Monday raised its benchmark interest rate by 0.5 percent to 14 percent, warning for the second time in two months that rising inflation was impacting the economy.
The State Bank of Pakistan attributed rising inflation to relentless government borrowing and the fallout from catastrophic flooding, and said inflation could remain in double digits into the next fiscal year, beginning July 2011.
“The economy’s ability to achieve sustainable recovery remains constrained owing to slow progress in the prevailing
Government to increase power tariff
The government has decided to increase the power tariff by 2 percent after which per unit price of electricity would reach 12 rupees, Dunya News reported on Sunday.
According to the sources of the ministry of water and power, the power tariff has been increased from yesterday raising the unit price to 12 rupees. It has been learnt that the increase has been made due to the agreements and ongoing programmes with the international monetary agencies. In this regard the government has decided to withdraw the subsidy in intervals. Since October, 2009 the government has increased the power tariff time and again.
According to the ministry of finance until the subsidies are finished, the power tariff would be increased every month by 2 percent.
Government to increase power tariff
The government has decided to increase the power tariff by 2 percent after which per unit price of electricity would reach 12 rupees, Dunya News reported on Sunday.
According to the sources of the ministry of water and power, the power tariff has been increased from yesterday raising the unit price to 12 rupees. It has been learnt that the increase has been made due to the agreements and ongoing programmes with the international monetary agencies. In this regard the government has decided to withdraw the subsidy in intervals. Since October, 2009 the government has increased the power tariff time and again.
According to the ministry of finance until the subsidies are finished, the power tariff would be increased every month by 2 percent.
Price of domestic cylinder increased by Rs 80
LPG price has once again been increased on Tuesday. Domestic cylinder has been increased by Rs 80 whereas commercial cylinder has been increased by Rs 720.
All Pakistan LPG Distributors Association chairman Irfan Khokhar while rejecting the hike in LPG cylinder said that marketing companies has increased the prices without ORGAs approval and he threatened to stage protest against this hike. On the other hand, Senate committee has called meeting to discuss LPG prices.
NEPRA increases power tariff by 2pc
The National Electric Power Regulatory Authority (NEPRA) has increased the power tariff by 2 percent. Notification has been issued in this regard.
According to Ministry of Water and Power, new prices would be applied from October 1. New prices would be applied on all consumers of 8 PEPCO companies and KESC. It is claimed in official notification, that 2000 megawatts electricity has been added in the national grid. And all sectors are continuously being provided electricity.
According to sources, electricity prices have been increased on IMFs demand while electricity tariff would be increased up to 26 percent in June.
Gold price increases by Rs 200 per tola
Gold price continued to rise in local and international markets as gold hit all time high on Thursday and reached Rs 42,400 per tola with an increase of Rs 200.
According to Sindh Sarafa Association, price of 10 grams increased to Rs 36,342. Gold price has been increased by Rs 3000 per tola during the month of September.
Silver price also increased by Rs 500 per tola.
Central bank raises interest rate
September 29, 2010 by Trend PK
Filed under World News
Staff Report
KARACHI: The State Bank of Pakistan has increased the interest rate by 50 basis points to 13.5 percent from September 30, 2010 for a period of two months.
According to a statement released from Karachi today (Wednesday), the interest rate has been increased in view of the current price hike.
The statement further said that the recent floods have further worsened the existing fragile economic situation. SAMAA
Gold price witnesses bullish trend
Gold price witnessed bullish trend in local and local and international gold markets on Wednesday. According to Sindh Sarafa Association, gold prices increased to Rs 40,275 per tola, up by Rs 110 whereas the price of 10 grams increased to Rs 34,521, up by Rs 94. In the international market, gold price increased to $1269 per ounce, up by $4. Gold prices have been increased more than Rs. 500 within two days in local gold markets.
