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LESCO has raised the rates for new electricity connections to Rs63,450.

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6 months ago

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The LESCO administration has issued a statement stating that the demand notice charge for a three-phase meter has increased from Rs33,500 to Rs63,450.

The notification states that the increased costs will be implemented starting from July 1.

Procedure for applying for a new connection with LESCO

  1. To initiate the application procedure, please access the provided link (http://www.enc.com.pk/).
  2. When submitting a form, you must provide the following information:

Select one connection type from the following options: Domestic, Commercial, Industrial, Agriculture, Tubewell, Temporary, General Services, Residential Colonies, Street Light.

  1. Additionally, you will need to provide property information for the location where you intend to build the new energy connection.
  2. Once you have completed and uploaded all the necessary information and documents, proceed to submit the application form.
  3. Require a hard copy of the application form you have submitted.

Please ensure that all stated documents are attached to this application.

Further information: LESCO officials have ceased their strike following the guarantee from the FIA that there will be no raids related to overbilling.

  1. Forward or deliver this entire file (comprising of the application form and necessary papers) to the appropriate office.
  2. The LESCO demand notice will be issued once the provided documents and information have been verified.
  3. The next step is to make payment for the LESCO demand notice at the designated bank.
  4. Once the demand notice has been paid, a copy should be provided to the relevant authority for further processing.
  5. In this final stage, the relevant office will verify the payment made in response to the demand notice. Once the verification is complete, they will proceed to install the connection.

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In interbank trade, the Pakistani rupee beats the US dollar.

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5 days ago

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Business

Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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6 days ago

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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Business

The inflation rate in Pakistan dropped to its lowest level.

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6 days ago

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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