Tag: Government action

  • FIA directed to identify and suspend officials involved in overbilling electricity consumers

    FIA directed to identify and suspend officials involved in overbilling electricity consumers

    Prime Minister Shehbaz Sharif has announced stringent measures against officials responsible for overcharging electricity consumers.

    During a meeting in Islamabad on Saturday, attended by Minister for Power Sardar Awais Ahmed Leghari, Minister for Information and Broadcasting Attaullah Tarar, and other relevant officials, the Prime Minister directed the Federal Investigation Agency (FIA) to identify and suspend such officials.

    He emphasised that these actions will not be tolerated, labelling the perpetrators as “enemies of the people.”

    In the same session, the Cabinet Committee on Energy (CCoE) revealed that the circular debt in the power sector had soared to Rs2,655 billion by May 2024.

    The committee, chaired by Prime Minister Sharif, approved the creation of a support unit aimed at enhancing the efficiency of electricity distribution companies (DISCOs), curbing electricity theft, and ensuring timely bill collection.

    This support unit, which will operate for two years after receiving federal cabinet approval, will begin its work with the Multan Electric Power Company (MEPCO).

    The government’s initiatives aim to address systemic issues in the power sector, thereby alleviating financial pressures and improving service delivery.

  • Islamabad’s public transport fares reduced by 10% 

    Islamabad’s public transport fares reduced by 10% 

    With immediate effect, public transport fares in Islamabad have been reduced by 10 per cent in direct response to the recent decline in petroleum prices.  

    This decision emerged following a meeting convened by the Secretary of the Islamabad Transport Authority, involving consultations with representatives from the Drivers Welfare Association as well as transportation business owners. 

    This fare reduction is poised to make a significant impact, encompassing 23 distinct routes crisscrossing the capital city of Islamabad. It serves as a vital measure to alleviate the financial burden borne by commuters in the region. 

    Notably, this benevolent gesture is mirrored in Lahore, where transport operators have also undertaken fare reductions for both long-haul and short-haul journeys. 

    Furthermore, as part of its ongoing commitment to ease the economic challenges facing the populace amidst escalating inflation, the caretaker government took decisive action on Sunday.  

    This action involved a substantial reduction in petrol price by a notable Rs40 per litre and an equally substantial reduction of Rs15 per litre for high-speed diesel (HSD) over the forthcoming two weeks.  

  • IMF’s ‘yes or no’ decision nears on relief for electricity bills

    IMF’s ‘yes or no’ decision nears on relief for electricity bills

    In the midst of extensive protests regarding soaring electricity charges, the interim government has reportedly devised a strategy aimed at alleviating the financial burden on electricity consumers in the country.  

    According to Geo News, the interim government is preparing a relief package that will grant up to Rs3,000 in relief to customers who use up to 300 units of electricity in their October bills. Furthermore, those facing electricity bills between Rs60,000 and Rs70,000 stand to benefit from a significant reduction of Rs13,000. 

    Simultaneously, discussions between the International Monetary Fund (IMF) and the interim government are ongoing, focusing on providing relief to electricity consumers. 

    In a separate report by The News, it’s revealed that the IMF, headquartered in Washington, has requested additional data from the Power Division to inform its decision regarding various proposals to address the impact of high bills in August and September. 

    “We have shared the required data with the Fund people hoping that IMF may today (Monday) come up with its response with a yes or no to the assertions of the Finance and Power Divisions, seeking permission for relief to inflation-stricken people in electricity bills,” shared sources involved in discussions with the IMF. 

    Currently, officials from both the Power and Finance divisions are engaged in intensive discussions with IMF representatives, considering the data associated with proposed measures to alleviate power tariffs and their potential effects on circular debt, cash flow, and potential delays in Independent Power Producers (IPPs) payments, ensuring the stability of the power sector. 

    In response to continuous protests by citizens and traders against soaring power bills and added taxes, the government is actively seeking to convince the global lender to grant immediate relief to electricity consumers in a nation already grappling with severe inflation.