The total power sector subsidies for current year had been budgeted at Rs976bn to keep it a going concern.Mr Farooqui observed that the regulator had worked out an average increase of Rs4.96 per unit in national uniform tariff but the government increased this rate to Rs7.50 per unit for domestic consumers using more than 400 units per month and all other categories like commercial, industrial including export oriented sector.As such the end rate including surcharges and taxes would go beyond Rs

Negotiations ahead of the Group of 20 summit in Rome dragged into Friday, stuck on energy and climate issues.... Some countries singled out China, saying it is refusing to beef up commitments to limit temperature increases and digging in over coal, with Russia and India also dragging the chain. The countries are set to commit to ending international funding for coal-fired power plants overseas during this weekend’s meeting but are struggling to agree on a date by when they’ll ditch supporting t

On Tuesday night in Lisbon, Lord Frost told EU ministers: “ It is our[ UK] responsibility to safeguard peace and prosperity in Northern Ireland, and that may include using Article 16 if necessary.” Triggering Article 16 would suspend part of the Brexit deal and can only be used if either the EU or UK concludes that the operation of the deal is leading to serious economic, societal or environmental problems.---------------------------Under the Brexit deal, UK imports to Northern Ireland must be r

Downing Street will refuse to rule out unilateral action in order to protect the UK's economic and territorial integrity in the row over post-Brexit border checks.... Lord Frost will set out the Government’s plans for the implementation of theBrexit deal’s Northern Ireland Protocol later this week.... The Brexit minister is expected to say the border fix is not “ sustainable ” in its current form and must be reworked to eliminate trade checks between the region and Great Britain. One insider t

Our package, as a whole, will provide significant changes for operators on the ground." In practice, our proposal would create a type of' Express lane'." Customs-related red tape would be cut in half.... This would result in a reduction of up to 80 percent of SPS checks." It is a whole new model for how goods can be moved from Great Britain to Northern Ireland.... But until today, we have seen no move at all from the UK side....

Following its threat, the EU insisted it had" shown readiness" to engage with the UK. Due to the agreement drawn up by the UK and EU, the Commission claimed the ECJ" needs to play its role" within the deal. This explosive statement comes following the culmination of talks with UK officials.It read:" The EU was always clear in its intentions-it will not renegotiatie the protocol and the role of the ECJ under the protocol is not up for discussion." In the document seen by the BBC, the EU adds:" Th

David Frost announced that although “ it is clear that the circumstances exist to justify the use of Article 16 ”, the Government has “ concluded that it’s not the right moment to do so ”.... In what sounded like a last resort before invoking Article 16, Lord Frost said the government will “ seek to agree with the EU through negotiations a new balance in our arrangements covering Northern Ireland to the benefit of all ”.... Express.co.uk wants to know whether you think the EU is acting in good

Most-active CBOT wheat futures fell 8.5% in the last three sessions as investors booked profits. Trade sources suggest commodity funds may have sold 37, 000 futures contracts during that period, which would result in a real-time net short.... — ReutersKaren Braun is a market analyst for Reuters.... The views expressed here are the writer’s own....

LONDON--British competition regulators opened a new investigation Tuesday into Microsoft's revamped bid to buy video game maker Activision Blizzard, representing the last major hurdle to closing one of the biggest deals in tech history. The Competition and Markets Authority said it has until Oct.... Xbox maker Microsoft has been on a quest to acquire Activision, maker of the popular Call of Duty game franchise since announcing the$ 69 billion deal in January 2022.... The companies have secured

close Video Fox News Flash top headlines for August 18 Fox News Flash top headlines are here.... The proposed rule also includes a voting bill. But this is simply a procedural mechanism of bringing the bills to the House floor.... There would be separate votes on final passage for each piece of legislation....