Govt to drop power bombshell by 4.3 tariff hike from 2011

The government is going to give a shocking gift to the people on New Year i.e a power bombshell by a hike of 4.3 percent in tariff, Media reported on Tuesday.

The increase in the tariff under an agreement with International Monetary Fund for the loans under which the subsidy given on power would be gradually eliminated by the end of this fiscal year.

Earlier, the government has raised the power by 50 percent adding to the woes of already miserable public.

Gold price jumps to record Rs36,500/tola

PESHAWAR: The price of a tola of gold has surged to a record level of Rs36,500 in the city. According to Sarafa Association, the price of gold stood at Rs35,500 a tola a week ago which has now increased by Rs1,000 to the record level of Rs36,500. The rise in price of yellow metal is said to be the diminishing value of rupee against dollar

PESHAWAR: The price of a tola of gold has surged to a record level of Rs36,500 in the city.

According to Sarafa Association, the price of gold stood at Rs35,500 a tola a week ago which has now increased by Rs1,000 to the record level of Rs36,500.

The rise in price of yellow metal is said to be the diminishing value of rupee against dollar.

IMF for immediate increase in power tariff

DUBAI: The IMF has expressed dissatisfaction over energy sector reforms has and asked Pakistan government to increase electricity tariff by 30 paisas per unit, Geo News reported Wednesday. Sources told Geo News that IMF argued government of Pakistan has failed to increase the required electricity tariff by 6 percent from 1st October this year, however, the actual increase of 4.4 percent have occurred due to subsidy provided to small subscribers using 50 unit tariff and tube wells. IMF said the deficit created by the subsidy be overcome by charging the regular subscribers.

DUBAI: The IMF has expressed dissatisfaction over energy sector reforms has and asked Pakistan government to increase electricity tariff by 30 paisas per unit, Geo News reported Wednesday.

Sources told Geo News that IMF argued government of Pakistan has failed to increase the required electricity tariff by 6 percent from 1st October this year, however, the actual increase of 4.4 percent have occurred due to subsidy provided to small subscribers using 50 unit tariff and tube wells.

IMF said the deficit created by the subsidy be overcome by charging the regular subscribers.

IMF has stated that Pakistan government had raised electricity tariff by Rs.1.20 per unit, now the tariff should get a further 30 paisa increase by the evening of 12th November.

The draft of value-added services should also be prepared by December and tax amendments should be made on timely basis, IMF stressed.