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ISLAMABAD: As part of its new power policy, the government’s decision to raise the power tariff was announced by Water and Power Minister Khawaja Asif. Briefing the media on the new power policy, approved by the Council of Common Interest (CCI) on Wednesday, the minister said hike in power tariff for industrial and commercial consumers would be applicable from August 01 while for household consumers it will be applicable from October. The new power tariffs would be announced soon, he added. Water and Power Minister said the demand of electricity in the country was around 18,000 MW and generation stood at 15,300 MW. Average load shedding in the country was 8 to 9 hours, he said. Khawaja Asif said the government wanted to shift power generation from oil to coal. He said they were struggling to sustain power generation at 15,000 MW. The new government had cleared Rs480 billion circular debt, he added.
Benchmark crude for May delivery fell 20 cents to $103.40 a barrel on the New York Mercantile Exchange. That followed gains totaling $3.16 a barrel on Monday and Tuesday.
Brent crude, a benchmark for international oil prices, slipped 52 cents to $107.46 a barrel on the ICE Futures exchange in London.
Oil prices fell as Chinese trade numbers showed that exp..... Read more
European finance ministers have reached agreement on a eurozone banking union ahead of an EU summit in Brussels.The deal follows months of strained negotiations between member states and it will now be put before European leaders later on Thursday.
New rules on prudent banking are seen as vital to bolster the euro, as bank failures triggered the f..... Read more
Asia s markets were mixed on Monday following another heavy sell-off on Wall Street while concerns over the crisis in Ukraine resurfaced.
Investors are also awaiting the release this week of first-quarter growth data from China, with analysts tipping a further slowdown in the world s number two economy.
Tokyo ended 0.36 percent lower, giving up 49.89 point..... Read more
