Category: Business

Lahore (Muhammad Yasir) MOL Pakistan Oil and Gas Co. B.V. in partnership with the JV Consortium of TAL Block has successfully completed another spree of free medical camps around TAL Block which extend health facilities to more than five thousand residents of underprivileged districts of KP including Karak, Kohat and Hangu. Under this spree, a large number of camps were organized during the last eight months at different localities of TAL Block. A dedicated Mobile Health Unit (MHU) consisted of a team of specialist doctors and expert paramedics, after thorough medical checkups, provided free-of-cost medicines to the residents including male and female elders, adults, young, children, and citizens with special needs, who otherwise didn’t have easy access to such facilities. At the completion of this spree, a simple ceremony was held at the location where Mr Thomas Quigley, CEO MOL Pakistan was the chief guest. Syed Fahad Iftikhar – AC Banda Daud Shah, Irfan Khattak – DSP Banda Daud Shah and other dignitaries were also present at the ceremony. The chief guest Mr Thomas Quigley, CEO MOL Pakistan at the ceremony, said, “As operator of Tal Block, MOL Pakistan is committed to the social welfare of our local communities residing in our areas of operation. We have a long history of providing free medical camps and free eye camps in KP, and will continue to do so in the future.” Syed Fahad Iftikhar, AC Banda Daud Shah, at the ceremony said, “I am grateful to MOL Pakistan for regularly organizing free medical camps for the local communities in its areas of operations. These kind of initiatives reflects upon the commitment of the company towards the betterment of its communities.” In his message, Ali Murtaza Abbas, MOL Group Regional Vice President for Middle East, Africa & Pakistan, said, “MOL Group is a responsible corporate entity that prioritizes the health and wellbeing of our local communities in Pakistan thanks to our corporate social responsibility (CSR) initiatives. These free medical camps are arranged at the request of our local communities and supplement the work of local administrations and the provincial government.” It is pertinent to mention here that MOL Pakistan has always looked forward to bringing positive change to the communities through its unique social welfare programs. The conduct of such camps is an example of this program, and many more are in the pipeline to facilitate the community. The local residents presented turban to the chief guest and appreciated the CSR initiatives done for the wellbeing of the community. They also requested the chief guest to organize such camps in future as well.

Lahore (Muhammad Yasir) TransPeshawar and LMKR are proud to announce yet another international honor for the Peshawar BRT System.

TransPeshawar won the Award for “Best Smart Ticketing Programme” (200K+ journeys) for 2022 at the Transport Ticketing Global. Transport Ticketing Global, UK presented the award to TransPeshawar for easing the lives of a large segment of society using innovative solutions. LMK Resources Pvt. Ltd. is the technology partner of TransPeshawar for smart ticketing solution &services for the Peshawar BRT system.

The winners were announced during the 10th annual awards which took place on 28th June, 2022 in London.The Best Ticketing Program award recognizes any public transport authority and their technology partner that have launched a successful smart ticketing programme in the last 2 years. The network to which the programme applies should serve 200,000 or more daily journeys. The award takes into account user-adoption, duration, sustainability and any other factors that make the project stand out. 

TransPeshawar won among a group of finalists which included JakLingko,Thales and Jatelindo Perkasa Abadi (Indonesia), MetroRio (Brazil), The South Australian Public Transport Authority (SAPTA), (Australia), Cubic Transportation System and MTA, (New York), Opal Digital Card and Contactless Transport Payments, (New South Wales) and Innoforce, (Kazakhstan).

Transport Ticketing Global is a global smart ticketing and mobility community that gathers a truly global audience of leading smart ticketing and mobility experts from 71 countries. The Tenth annual Transport Ticketing Awards celebrated the achievements and innovation and collaborative efforts of our community. The award recognized the incredible work done around the world to keep passengers safe and moving. 

A representative of LMK Resources Pvt. Ltd. received the award on behalf of TransPeshawar at the Annual Transport Ticketing Global Summit 2022, in London. 

 

 

Pakistan (Nut Desk) An Impeccable design, Stellar 50MP Ultra Vision Camera, 66W HUAWEI SuperCharge, these are just a few reasons why the HUAWEI nova 9 should be your next phone this season! A great smartphone is one that is styled for the ages, equipped with a great camera, has a large battery that charges up swiftly, and if you throw in some cool futuristic features then you have something special. And all of these things are not easy to find in one single phone! Having said so, Huawei recently launched in Pakistan the all-new HUAWEI nova 9.

Dubbed as “the Trendy Flagship & Camera King”, this latest gem from Huawei comes soaring with a stunning design, a 50MP Super Sensing Camera, a large battery that supports 66W HUAWEI SuperCharge.

Let us take a look at its feature closely and you will understand why it is our favourite choice for a smartphone this season! Breathtaking design The HUAWEI nova 9 is simply an outstanding smartphone and it comes in a new colourway called: Colour No.9, what a cool name that is! Polished with a brand-new Starry Flash AG Glass process, the device is pleasure to the eyes. Colour No. 9 is a mixture of low-saturation blue and purples hues that gives off a hint of mysteriousness. Under different lighting, the colour finish reflects vivid and colourful patterns. Under a spotlight, the whole device shines and sparkles. It reminds users of the subtle moments in their life, which are inspiring and exhilarating. The HUAWEI nova 9 inherits the HUAWEI nova Series’ unique aesthetic and sophisticated design.

The Trendy Flagship and Camera king sports a 6.57-inch curved display that can render 1.07 billion colours, and supports up to 120Hz display refresh rate, 300Hz touch sampling rate and the P3 colour gamut to produce smoother and more immersive visuals that are brimming with details. The HUAWEI nova 9 is sleek with a thickness of only 7.77mm and a weight of approximately 175g only. In terms of industrial design, colourway is always an important factor for the HUAWEI nova Series to showcase its uniqueness and commitment.

It also comes with a more iconic camera setup that is updated based on HUAWEI nova 8’s Star Orbit Ring. Ultra-Vision Camera The HUAWEI nova 9 comes with an Ultra Vision AI Quad Camera system, which includes a 50MP Ultra Vision Main Camera with RYYB colour filter array, an 8MP Ultra Wide Angle Camera, a 2MP Depth Camera and a 4cm Macro Camera. The upgraded hardware synergies with flagship-class algorithms to empower users capture in high clarity across different scenarios. Meeting the demand for an excellent vlogging experience, the HUAWEI nova 9 is fitted with a 32MP High- Res selfie camera.

Similar to the rear camera, it also supports 4K video capture and AIS (AI Image Stabilisation) Video Stabilisation, allowing users to capture high definition footage of themselves as they talk to the camera, as well as the exciting events happening around them.

Thanks to Continuous Front/Rear Recording, users can also switch between the front and rear cameras, allowing them to fluidly capture their story within a single video file. Dual-View Video recording allows users to showcase their live reaction to events, simultaneously using the front and rear cameras with no editing required or, for when you want to show the big picture and the detail, you can simultaneously capture a close up shot and wide-angle shot at the same time. Large Battery with HUAWEI SuperCharge Considering how much of our daily lives are tied to the smartphone, battery life is perhaps one of the most important concerns that users have, if not the most. After all, no matter how powerful or well designed a smartphone is, it is of little use to us when its battery is depleted.

The HUAWEI nova 9 packs a proprietary 4300mAh battery to provide all-day battery life. Furthermore, the Trendy Flagship Camera King supports 66W HUAWEI SuperCharge, enabling it to charge much faster. It takes only 15 minutes to charge to 53% and 38 minutes to 100%. Offering a smart and seamless experience to users, the trusted, innovative and secure AppGallery comes pre-installed on the HUAWEI nova 9, where users can search for, and download a wide range of high- quality apps. In short, if you are looking for a new smartphone that truly ticks all the boxes and also that comes at a reasonable price range, then the new Trendy Flagship Camera King HUAWEI nova 9 is your go-to option right now! Meta Description: Why the HUAWEI nova 9 is the top trendy flagship and camera king smartphone of this year 

 

Lahore (Nut Desk) TECNO Mobile officially unveiled the latest Camera device, Camon 19 Neo in Pakistan. The phone comes with an impressive camera and design and is available for sale nationwide.

TECNO “Cam-On” series always brings forward the best camera features at a competitive price. The new Camon 19 Neo supports a 32MP Softlight Selfie Camera, 48MP Bright Night Portrait, and a Geometric Edge cutting Design to cater to the need of the young stylish users.

The much-awaited series is being highly praised by the marketers and users in Pakistan. The phone not only has great features, but its introductory price of PKR 34,999 is attracting the attention of consumers well.

Kelvin Zeng, CEO of TECNO Mobile Pakistan, expressed his thought on this launch,

“We are receiving great feedback from the tech community and the market leaders on Camon 19 series. TECNO has always worked as a responsible company in bringing the latest technology at a good price to its customers globally. To support this, we set up two technically advanced assembling plants in Pakistan, in both Karachi and Lahore, aiding to strengthen the employment opportunities for the locals.”

Camon 19 Neo comes packed with some powerful features including a Helio G85 processor, 6.78” FHD+ Display, 6+128GB Storage, 5000mAh powerful battery with an 18W flash charger, along with some of the most outstanding camera features. The phone offers a brilliant 2k Video shooting, where users can enjoy Bokeh and other effects in the video as well as still photography.  

Isn’t this amazing? This special video feature is exclusively available in Camon 19 Neo. Other variants of the Camon 19 series will soon be available in Pakistan, so stay tuned and keep following TECNO Mobile.

Karachi (Muhammad Yasir) Mondelēz Pakistan has achieved a significant milestone with its MD, Sami Wahid, joining the Male Champions of Change Pakistan (MCC Pakistan).

MCC Pakistan is a leading platform whose members are committed to utilizing their influence and resources on leveling the playing field with respect to issues like gender equality, diversity and women’s empowerment within their organizations and in society as a whole. MCC Pakistan was established in 2018 and is a member organization of the Champions of Change Coalition.

The body’s strategy is focused on engaging men of power and influence to advance gender equality. Members include 19 MDs and Managing Directors from some of the biggest entities in Pakistan from various sectors including hospitality, telecommunications, information technology, textile, financial advisory, micro-finance, logistics and media. Mr. Sami Wahid’s membership of MCC Pakistan demonstrates his commitment to leading Mondelēz Pakistan in its pursuance of diversity, equality and inclusion.

A signing ceremony, held at the Mondelēz Pakistan headquarters to formalize Mr. Wahid’s inauguration to the panel, was attended by Mr. Sami Wahid, MD of Mondelēz Pakistan; Ms. Fiza Farhan, Convenor of MCC Pakistan, Ms. Khadijah Khan, People Lead Commercial, Mondelēz Pakistan; and Ms. Afshan Khan, Talent Acquisition Advisor, Mondelēz Pakistan.

Expressing his views at the development, Mr. Sami Wahid, MD, Mondelez Pakistan commented: “As leaders we have both an opportunity and a responsibility to create a diverse and inclusive workplace for our people. Coming together with the Champions of Change demonstrates our ongoing commitment at Mondelēz Pakistan to accelerate gender equality within our organization and beyond,” says Mr. Wahid.

Mondelēz Pakistan has been focused on addressing diversity, equality and inclusion challenges, and accelerating more and diverse women into leadership positions. The company recently won an award for Gender Diversity at Workplace during the 18th Annual Excellence Awards held by CFA Society Pakistan.

Lahore (Nut Desk) At the Win-Win Huawei Innovation Week, David Wang, Executive Director of the Board and Chairman of the ICT Infrastructure Managing Board of Huawei, delivered a keynote speech titled “Innovation, Lighting up the 5.5G Era”. In his speech, Wang spoke about the next evolution of 5G technology, which the company has termed, 5.5G, and the industry’s innovation roadmap for the next five to ten years. “Looking ahead to 2025, the sheer diversity and magnitude of network service requirements will create huge new market potential,” said Wang.

“We’re here to discuss these opportunities with operators and industry partners, and explore the innovations we need to help pave the way for 5.5G.” Huawei proposed 5.5G for the first time at the 11th Global Mobile Broadband Forum in 2020, and F5.5G (or fixed 5.5G) at the Global Analyst Summit this April. Since then, the industry has been simmering with new ideas and best practices.

A wealth of new requirements will raise the bar for next-generation ICT infrastructure According to Wang, new developments in digital technology need to support a truly real-time, engaging, and more immersive experience in the digital world, and gradually make a 10 Gbps network experience available everywhere on the planet. On the industrial front, digitalization has already entered the fast lane.

AI will be fully integrated into enterprise production processes, and the size of the 5.5G IoT market will grow rapidly. Collaboration between robots and people in complex scenarios will impose greater requirements on next-generation industrial field networks. Currently, bottlenecks in computing, such as memory walls, unbalanced utilization of data center resources, and low energy efficiency, are hindering the rise of new computing demand. To address these challenges, the industry needs to innovate at the architecture and system levels to boost computing supply.

Six features of 5.5G – New value for digital life and development The first is a 10 Gbps user experience. 5.5G will deliver a 10 Gbps experience through MIMO technology that boasts larger bandwidth, higher spectrum efficiency, and higher-order modulation. With next-generation technologies like FTTR, Wi-Fi 7, 50G PON, and 800G, F5.5G will bring a 10 Gbps experience everywhere. At the event, Wang proposed Net5.5G for the first time, defining the evolution of IP networks to meet the rising demand for computing power by intelligent applications. “As digitalization takes hold, intelligent applications will see large-scale commercialization and computing resources will be located across multiple clouds,” said Wang.

“Enterprises need to make use of computing power from multiple clouds at lower costs, with greater agility and flexibility. To this end, we need to keep innovating and build out the IPv6 Enhanced system to help the industry thrive. This is why we proposed Net5.5G.” Second, the business scope will go beyond connectivity. 5.5G will go beyond connectivity to include sensing, which will result in a wealth of new scenarios and applications.

Wireless sensing and fiber sensing technologies will be used in vehicle-road collaboration and environment monitoring. Passive IoT will integrate cellular and passive tag technologies to create 100 billion potential connections. 5.5G core networks will redefine architectures and foundational technologies to enable new service scenarios, such as industry private networks, industrial field networks, and new calling. Third, diversified computing will enable diversified applications.

In the 5.5G era, computing architectures will be redefined to increase computing efficiency by 10-fold through chip engineering and full peer-to-peer interconnection architectures. Fourth, data-centric storage will break through existing limits in storage architecture. Future storage will improve storage performance by 10-fold through data-centric hardware and software architecture and diversified data application acceleration engines. Fifth, full-stack AI native will make L4 highly autonomous driving networks (ADNs) a reality.

ADNs have become a common goal of the industry. Full-stack AI native, from network elements to networks and services, will accelerate breakthroughs in ADN technology. The results of new innovation, such as compression algorithms for hundreds of network indicators and unknown fault identification by AI foundation models, will be widely applied in the 5.5G era.

Lastly, developments in green technology and system-level innovation will increase energy efficiency. The ITU-T has adopted Network Carbon data/energy intensity (NCIe) as the unified energy efficiency metric to guide the industry’s green development roadmap. 

Lahore (Muhammad Yasir) ABHI, a Pakistan-based fintech and Unveel.io, a UAE-based API-Widget are combining their expertise to offer the facility of Earned Wage Access to ride-hailing and delivery drivers in Pakistan and UAE for the first time.

As the world economy struggles to get back on the rails, this comes as a ray of hope for workers. Hundreds of thousands of workers who were previously at the mercy of pay cycles over which they had no control are now better placed to manage the ongoing cost-of-living crisis, thanks to the combined efforts of Unveel.io, an acknowledged expert in API payroll data, and ABHI, whose Earned Wage Access solutions have placed them at the head of their field.

These two companies ensure that workers will now be able to access their earnings in real-time and be paid for their services on the same day, rather than be paid after a whole month. This will allow them to be in more control of their finances and lead a more productive and stress-free life.

Max Moscicki, Vice President  of Unveel.io, said:‍“Our philosophy is that once you have earned something, you should have access to it right away, and Unveel’s real-time data enables that. Anything else is basically not giving you what you deserve. Having to wait for a distant payday is something that many gig workers cannot comfortably do, nor should they have to.

Ride-hailing drivers and delivery couriers are some of the hardest working people out there, and we think that they deserve straightforward access to the fruits of their labor on their own terms.”

Omair Ansari, CEO, and Co-founder of ABHI, said:‍“Employees should no longer have to feel ashamed to ask for the money they rightly deserve. Through our Earned Wage Access product, people can acquire their earnings instantly, which we believe is a basic human right. We are thrilled to partner with Unveel.io and believe that this partnership will open newer avenues to financially empower working individuals, enabling them to live a happier, healthier, and more productive life.”

Lahore (Muhammad Yasir) The largest exhibition of automobiles in the country – The Pakistan Auto Show 2022 (PAS-22) is being held on the 29th, 30th, and 31st of July, 2022 at the Expo Centre Lahore.

It is the most valuable initiative of ‘Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM), representing over 3000 large, medium & small industries from all over Pakistan.

The theme of the PAPS show is; “MADE IN PAKISTAN”. More than 100,000 local visitors are expected to see renowned companies while foreign exhibitors will be seen showcasing their latest parts and technologies, including 150 auto parts manufacturers.

Visitors will be able to take test-drive tracks for the latest cars of MG, Toyota, Suzuki and Proton. Also, Motorway Police Kiosk will be there to facilitate the visitors by engaging them on how to improve their driving and offering Learner’s Driving Licenses on the spot.

The diverse categories of exhibitors will include; Passenger Cars, Trucks, Buses, Tractors, Rickshaws, Motorcycles, Auto parts Manufacturers, Services providers, Machinery makers, Tool-makers, Antique cars and Heavy motorbikes along with related service industries like accessories, Tracking & insurance, etc. The general public is invited to visit the show between 10 AM and 7:00 PM, to see the fascinating innovations and cutting-edge technologies from the best institutions and projects, delivering great advantages for the consumers.

Also providing the visitors with food and vintage cars at the exhibition. The main goal of this exhibition is to show the PAAPAM Auto Village to the USA and European countries also export them with a complete range of Automotive Parts manufactured and supplied to all OEMs.

The Chairman of Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) – Mr, Abdur Razzaq Gauhar, stated that: “Implementation of tough policies by the Government also monitoring them will ensure that only Overseas Pakistanis can benefit from used-car import schemes. Foreign companies should be inspired to invest more, transfer technologies, and “Made in Pakistan” for better economic progress of Pakistan.”

 

All Three Companies will Continue to Benefit from GE Heritage

• Healthcare business to be named GE HealthCare.
• GE’s portfolio of energy businesses, including GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services, to come together as GE Vernova.
• Aviation business to be named GE Aerospace.

Lahore (Muhammad Yasir) GE (NYSE:GE) today announced the brand names of the future companies it will create through its planned separation into three industry-leading, global, investment-grade public companies focused on the growth sectors of healthcare, energy, and aviation. 

GE HealthCare will be the name of GE’s healthcare business. GE’s existing energy portfolio of businesses, including Renewable Energy, Power, Digital, and Energy Financial Services, will sit together under the brand name GE Vernova. GE Aerospace will be the name of GE’s aviation business. All three planned companies will continue to benefit from GE’s heritage and global brand valued at nearly $20 billion*.

Additionally, GE announced today that following the completion of the planned spin-off, shares of GE HealthCare will be listed on The Nasdaq Global Select Market under the ticker symbol “GEHC.” By listing on Nasdaq, GE HealthCare will benefit from the exchange’s profile and track record as a market for innovative, technology-led public companies, particularly in the healthcare sector.

 

1. Lawrence Culp, Jr., Chairman and CEO, GE, and CEO, GE Aerospace said, “Today marks a key milestone in GE’s plan to become three independent, laser-focused companies. Leveraging GE’s multi-billion-dollar global brand gives us a competitive advantage in our end markets, allowing these businesses to win in the future. Built on a foundation of lean and innovation, these brands will continue our mission of building a world that works and provide our customers with an important reminder of the strengths they value in GE.”

GE intends to execute the tax-free spin-off of GE HealthCare in early 2023, creating an independent company driving innovation in precision health to improve patient outcomes and address critical patient and clinical challenges. Building on a more than 100-year history, the GE HealthCare name and Monogram will serve as an enduring badge of safety, quality, trust, and innovation. The new brand color for GE HealthCare is called  “compassion purple” to reflect more humanity and warmth and achieve greater distinction. The company will continue to be at the forefront of provider and patient care with more than four million product installations and over two billion patient exams a year.

In early 2024, GE plans to execute the tax-free spin-off of GE Vernova, GE’s portfolio of energy businesses, which together with its customers provides one-third of the world’s electricity and is focused on accelerating the path to reliable, affordable, and sustainable energy. The new name is a combination of “ver,” derived from “verde” and “verdant” to signal the greens and blues of the Earth, and “nova,” from the Latin “novus,” or “new,” reflecting a new and innovative era of lower carbon energy that GE Vernova will help deliver. These attributes also are reflected in GE Vernova’s new “evergreen” brand color.

With an installed base of more than 7,000 gas turbines and 400 GW of renewable energy equipment, GE Vernova’s Monogram will serve as a reminder of the company’s lasting commitments to deliver quality, partnership, and ingenuity to its customers. 

Following these planned spin-offs, GE will be an aviation-focused company called GE Aerospace. With an installed base of 39,400 commercial and 26,200 military aircraft engines, the company will continue to play a vital role in supporting the industry through a historic recovery while shaping the future of flight. The GE Monogram, new name, and new “atmosphere blue” brand color—representing the upper limits of the atmosphere—maintain the brand’s strong standing in the aviation sector, while setting forth a confident vision to compete and advance in the field of aerospace and defense for future generations. Following the planned separations, GE Aerospace would own the GE trademark and would provide long-term licenses to the other companies.

GE Chief Marketing Officer Linda Boff said, “Over the course of the last six months, we engaged in a thorough, customer-led process to understand the intrinsic value of the GE brand for our planned future companies. Based on data and analysis drawn from thousands of conversations, it became clear that the GE name and our century-plus old Monogram represent a legacy of innovation, symbol of trust by global customers, pride for our team, and a talent magnet for future leaders. We’re proud these future businesses will be able to build on GE’s DNA of innovation.”

By creating three separate companies, each will benefit from greater focus, tailored capital allocation, and strategic flexibility to drive long-term growth and value.**

*According to Interbrand Best Global Brands 2021.

**These plans may be subject to the outcome of legally mandated consultation in some parts of the world.

Caution Concerning Forward-Looking Statements

This document contains forward-looking statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important-forward-looking-statement-information, as well as our SEC filings. We do not undertake to update our forward-looking statements. 

Karachi (Muhammad Yasir) In line with the governing laws, rules, and regulations of the Government of Pakistan and NEPRA, various changes have been made to the rates of electricity and tariff structure that will be effective from July and applicable nationwide including on consumers in KE’s service territory. The determination of costs of electricity to be recovered from consumers across Pakistan in their bills comes under jurisdiction of NEPRA and the Government of Pakistan.

These changes include the non-extension of relief for zero-rated industries as well as the relief on peak-hour electricity consumption for industrial consumers. The retailer tax with revised slabs has been introduced for commercial consumers. Non-Time of Use residential consumers will also see a revision in their applicable tariff along with a change in the methodology for their calculation.

Protected and Unprotected Consumers

As per SRO 1004 dated 7th July 2022, the tariff rates and slab structure for tariff of unprotected non-ToU residential consumers (i.e. consumers with sanctioned load below 5kW) has changed.

“Protected” consumers, as per tariff terms proposed by GoP under its Power Subsidy Rationalization Plan and by NEPRA as those non-ToU residential consumers with monthly electricity usage of 200 units or less, consistently for the past 6 months. All other non-ToU residential consumers fall in Unprotected category.

Previously, category of unprotected consumers were provided the benefit of one previous slab in their billing (i.e. their billing was done in two slabs), which has now been removed. Consumers in the unprotected category will now only be charged on one slab in which their units fall. Accordingly, tariff rates have also been adjusted downwards to minimise impact on consumers.

Industrial Customers Bills

Industrial consumers were previously being provided a relaxation by Government of Pakistan, allowing them to utilize electricity during peak hours at the same rates as off-peak hours. That relief was allowed until June 2022 and accordingly with no further extension. Peak rates would now be applicable on industrial consumers as well.

Similarly, zero-rated (or export-oriented) industries were being provided electricity at a fixed rate of USD 9 cents/unit, which was applicable till June 2022, has now been removed. Now, these industries will be charged as per applicable tariff rates to normal industrial consumers.

In addition to the above charges, it must also be noted that routine charges under FCA will be applicable in July bills within KE’s service territory.

Retailer Tax for Commercial Consumers

Per the Government of Pakistan Finance Act 2022 applicable across the country, retailer tax on unregistered retailers have been revised and effective from 1st July 2022. For consumers on commercial tariff, a minimum fixed tax of PKR 3,000 will be charged for bills between PKR 0 and PKR 30,000. Monthly bills between PKR 30,001 and PKR 50,000 will be taxed PKR 5,000, while those with monthly bills above PKR 50,0001 will be taxed PKR 10,000.

Important to note that inactive income taxpayers will be charged twice the taxable amounts.

Further, these taxes will apply even if the consumer’s premises are not in use.

Fuel Charges Adjustments (FCA):

Unprecedented hikes in the price of furnace oil and RLNG were translating into higher costs of electricity production for utilities, and higher costs of electricity for consumers as well. Under the tariff mechanism determined by NEPRA, incremental costs of fuel are recovered from consumers in their bills via Fuel Charges Adjustments (FCA) after the regulator’s scrutiny and approval. Within the decision for FCA, regulator also states that in which month FCA is to be charged. For example, FCA of March 2022 was charged in the month of June 2022.

Accordingly, in its determination for the month of April 2022, NEPRA has allowed KE to charge PKR 5.2718 per unit for units consumed in April ’22 to be billed in the month of July 2022. Further, NEPRA has allowed the FCA for May ’22 be recovered in two parts with PKR 2.6322 per unit charged in July and the remaining PKR 6.8860 per unit in the bills of August ’22. This means customers will see two entries for FCA in their July bills i.e., FCAs for April and May, respectively.

Speaking about the changes, Spokesperson KE stated “We understand that our consumers may have a number of questions about these revisions. To assist them during this time, we have updated our website with frequently asked questions. To reiterate, these changes are introduced under the governing laws of the Government of Pakistan and the rules of the regulatory authority NEPRA and are applicable across the country.