In partnership with
Profit
to be decided PAKISTAN, AZERBAIJAN AGREE TO EXPAND asPTI’sSCfate announces verdict on reserved INVESTMENT VOLUME UP TO $2 BN seats today Friday, 12 July, 2024 I | 5 Muharram, 1446
g
Rs 20.00 | Vol XV No 12 I 8 Pages I Islamabad Edition
PM Shehbaz says we have agreed g President Illham Aliyev says: ‘This connection is a to enhance bilateral trade, areas of big asset, we are brothers, we are friends, and we joint cooperation and investment support each other on every international issue’
Pakistan, Azerbaijan sign 15 MoUs to boost bilateral ties
P
ISLAMABAD STAFF REPORT
AKISTAN and Azerbaijan on Thursday agreed to enhance the bilateral investment level of up to US$2 billion in areas of mutual beneficial projects. In a joint press stakeout along with
Azerbaijan President Illham Aliyev, after witnessing signing of agreements and MoUs in diverse areas between the two countries, Prime Minister Muhammad Shehbaz Sharif said “we have discussed an initial figure of $2 billion investment in areas of mutually beneficial projects”. The prime minister hoped that when he will visit Azerbaijan in November this
ISLAMABAD: Pakistan and Azerbaijan signed 15 Memoranda of Understanding (MoUs) and agreements on Thursday to enhance bilateral cooperation across various sectors including trade, commerce, tourism, minerals, science and technology, law, justice, and cultural exchange programs. Prime Minister Muhammad Shehbaz Sharif and Azerbaijan President Ilham Aliyev witnessed the signing ceremony at the PM House. Deputy Prime Minister and For-
year, the two sides would be ready to ink agreements worth $2 billion to start with, as there was great potential in both sides
eign Minister Ishaq Dar, along with Azerbaijan’s Deputy Minister of Foreign Affairs Samir Sharifov, signed an MoU between the Ministries of Foreign Affairs of both countries on Consular Affairs. Commerce Minister Jam Kamal Khan and Azerbaijan’s Deputy Minister of Economy Sahib Mammadov signed a Preferential Trade Agreement between the governments of Azerbaijan and Pakistan. STAFF REPORT
CONTINUED ON PAGE 03
to multiply this figure in years to come.
NEPRA approves 7.12/unit hike in base electricity tariff g
CONTINUED ON PAGE 03
New base tariff is set at Rs48.84 per unit for domestic consumers PROFIT
AHMAD AHMADANI
The National Electric Power Regulatory Authority (NEPRA) has approved an increase in the base electricity tariff from 3.95 per unit to Rs 7.12 per unit. The new base tariff is set at Rs 48.84 per unit for domestic consumers. The monthly tariffs for various consumption brackets are as follows: g 201 to 300 units: Increased by Rs 7.12 to Rs 36.89 per unit. g 301 to 400 units: Increased by Rs. 7.02, fixed at Rs 39.15 per unit. g 401 to 500 units: Increased by Rs 6.12, set at Rs
41.36 per unit.
g 501 to 600 units: Increased by Rs 6.12 to Rs 42.40
per unit. g 601 to 700 units: Increased by Rs 6.12 to Rs 43.79 per unit. g Above 700 units: Increased by Rs 6.12 to Rs 48.84 per unit. On Wednesday, NEPRA held a public hearing to take up the federal government’s proposed electricity tariff increase for power distribution companies (DISCOs) and K-Electric (KE). The hearing was conducted in response to a motion filed under Sections 7 and 31 of the NEPRA Act, accompanied by the Tariff (Standard & Procedures) Rules of 1998. The federal cabinet had previously ap-
proved an increase of up to Rs 7.12 per unit in the base electricity tariff, set to take effect from July 1, 2024. The hearing, presided over by NEPRA Chairman Waseem Mukhtar, included participation from officials of the Power Division, Central Power Purchasing Agency (CPPA), and CEOs of various electricity companies. Power Division officials assured during the hearing that there would be no increase in electricity tariffs during the summer for 86% of domestic consumers in the country. They highlighted the government’s subsidies, including Rs 177 billion for K-Electric and Rs 313 billion for DISCOs consumers.
CONTINUED ON BACK PAGE
ISLAMABAD
STAFF REPORT
The Supreme Court will announce its much-awaited verdict tomorrow (Friday) on a case related to the denial of reserved seats to the Pakistan Tehreek-eInsaf (PTI)-backed Sunni Ittehad Council (SIC), according to a cause list issued on Thursday. This development came after the apex court’s full bench held its second round of consultations on the reserved seats case verdict for the second consecutive day on Thursday. A special session of the country’s top court’s 13-member full bench was held under the chair of Chief Justice of Pakistan (CJP) Qazi Faez Isa, with all the judges of the bench attending the session, according to sources. The cause list issued on the SC website following the meeting said a full bench led by CJP Isa will announce the short ruling at 12 pm on Friday (July 12) on the SIC plea challenging the Peshawar High Court (PHC) decision upholding the Election Commission of Pakistan (ECP) move to deny the PTI-backed lawmakers reserved seats in the assemblies. The apex court reserved the verdict on the SIC’s appeals on Tuesday after conducting nine hearings on the SIC’s appeals, with all parties including the federal government and the ECP presenting their arguments against the SIC’s plea. The full bench also comprises Justice Syed Mansoor Ali Shah, Justice Muneeb Akhtar, Justice Yahya Afridi, Justice Amin-ud-Din Khan, Justice Jamal Khan Mandokhail, Justice Muhammad Ali Mazhar, Justice Athar Minallah, Justice Syed Hassan Azhar Rizvi, Justice Ayesha Malik, Justice Shahid Waheed, Justice Irfan Saadat Khan, and Justice Naeem Akhtar Afghan. The case The reserved seats’ issue first emerged after over 80 PTI-backed independent candidates emerged victorious in the February 8 elections and subsequently joined the SIC in a bid to claim seats reserved for minorities and women. However, the Imran Khanfounded party suffered a setback after the ECP, citing the party’s failure to submit its list of candidates, denied allocating the reserved seats to the SIC. The party then approached the PHC, which upheld the electoral body’s decision on the matter. Subsequently, the SIC moved the apex court seeking to set aside the PHC verdict and the allocation of 67 women and 11 minority seats in the assemblies.