RBI extends deadline to exchange Rs 2,000 notes to Oct 7, 2023

Mangaluru: In a significant development, Mescom has proposed a phased electricity tariff hike starting with Rs 0.70 per unit for the fiscal year 2025-26. The proposal has been submitted to the Karnataka Electricity Regulatory Commission (KERC) for approval, signaling a potential increase in electricity costs for consumers.

Mescom emphasized that the current tariff structure is insufficient to meet operational expenses and manage revenue effectively. To address this, the company has invited public objections to the proposed hike.

Currently, the electricity supply cost is Rs 9.23 per unit, while the consumer tariff stands at Rs 8.53 per unit, leading to a shortfall of Rs 0.70 per unit. For the financial year 2023-24, Mescom reported revenue of Rs 5,924.73 crore against an expenditure of Rs 6,310.39 crore, resulting in a deficit of Rs 367.66 crore. For the 2025-26 fiscal year, projected revenue is Rs 5,850.81 crore, with an actual requirement of Rs 5,961.63 crore, creating a deficit of Rs 110.82 crore.

In a first, Mescom has submitted a multi-year tariff revision proposal to KERC. The plan outlines a hike of Rs 0.70 per unit for 2025-26, followed by Rs 0.37 per unit for 2026-27 and Rs 0.54 per unit for 2027-28.

"An increase in electricity tariff is inevitable," stated Jayakumar R, Managing Director of Mescom. "Mescom has submitted a proposal in this regard to KERC."

Journalist Mohammad Hijazi has been killed in an Israeli attack, raising the number of media workers killed by Zionist forces since the start of the war on Gaza to 220.

The Israeli regime forces killed the Palestinian writer, poet and journalist in an airstrike on northern Gaza’s Jabalia refugee camp, according to his family.

He was among nearly 90 other Palestinians killed in Israeli bombardment across the besieged territory in the last 24 hours, according to a Gaza Health Ministry statement on Sunday.

“I don’t know if I will write to you again. I keep what I have written and am writing. Maybe it will come to light one day. I refuse a cheap death. I curse the murderer,” Hijazi wrote in a post on social media in August 2023.

“Let us in this bottom that we have finally reached, arm ourselves with patience and prayer, and count the days we have lived as a historic achievement while awaiting what is coming with a broken heart, an extinguished eye, a head held high, and a spirit that fights until the end of the road.”

Since the Israeli killing machine imposed a military siege of northern Gaza in early October intensifying its bombing attacks on the the Jabalia camp, hundreds of people have been killed.

Gaza’s Health Ministry reported on Sunday that at least 88 Palestinians had been killed and 208 others injured in the past 24 hours alone.

According to media reports from central Gaza, among those killed in the latest Israeli strikes across Gaza on Sunday were three Palestinians who were living in a tent in Deir el-Balah.

A family of 15 people was also buried under the rubble in Gaza City, following a separate strike, media reported.

The Israeli regime launched its genocidal war on the Gaza Strip following a surprise operation by the Palestinian  Hamas resistance movement in October last year, killing more than 45,805 Palestinians and wounding 109,064 others.

New Delhi, Jan 7: Fifty-three people were killed after an earthquake of magnitude 7.1 hit Tibet near the Nepalese border today, news agency AFP said quoting Chinese media Xinhua. The tremors of the earthquake were felt in several parts of India, including Bihar, Assam and West Bengal.

The epicentre of the earthquake was in Tingri county in Shigatse city. Tingri is about 400 km southwest of Tibet's capital Lhasa and is on the border with Nepal. It is a tourism hub for those visiting Mount Everest. 

According to the National Centre for Seismology (NCS), the earthquake was recorded at 6:35 am. NCS data reveals that two more earthquakes hit the region shortly after the first one. 

The second earthquake of magnitude 4.7 was recorded at 7:02 am at a depth of 10 km and the third earthquake of magnitude 4.9 at 7:07 am at a depth of 30 km. 

Nepal is nestled in a geologically active region, where the Indian and Eurasian tectonic plates collide, forming the Himalayas and making earthquakes a frequent occurrence. In 2015, nearly 9,000 people died and more than 22,000 were injured when a 7.8-magnitude quake struck Nepal, destroying more than half a million homes.

The tremors were particularly felt in Bihar where people were seen outside their houses and apartments. There have been no reports of any damage to property because of the earthquake.