collected snippets of immediate importance...


Thursday, October 7, 2010

During last year, power sector losses were estimated at Rs250 billion. However, the government has been increasing the prices but failed to reduce losses which have surged to 30 per cent, almost equivalent to the cost it would recover through increasing prices. Over the past two years the tariffs have been increased by 70 per cent.

About one-fifth of the amount was evaded by 38 individuals hailing from Karachi, who managed to avoid payments worth Rs17.7 billion – a figure higher than the country’s education budget for this year. The discrepancies were pointed out during the audit of the accounts of 2008-09.

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