Electricity prices to increase by 26 paise per unit in December

Morning! To all the passenger princesses and bros out there: our days of getting blamed for poor Google Maps directions may finally be over.

Starting this month, Google Maps is rolling out new features that make navigation clearer than ever. Now, the blue line will show exactly which lane to be in for your next turn, and the map will highlight crosswalks, signs, and lane restrictions.

So, the next time your dad yells at you about a missed flyover, you can no longer blame Google Maps.

In this week’s edition:

🧾 No ‘ifs’ about these tariffs

⚡ Your solar panels won’t be able to save you this time

🕵️ Even AI has to deal with standardised tests

📊 No fans of VPN ban

- The Itla Squad 💼

Business

Global 🌎️

No ‘ifs’ about these tariffs

Donald Trump, the new President-elect, has proposed new tariffs that could raise prices in the U.S., according to Goldman Sachs. He plans a 10% tariff on Chinese goods and 25% on imports from Canada and Mexico. If these happen, experts predict they will push inflation higher, making it harder for the Federal Reserve to manage the economy.

The details:

• Goldman Sachs estimates the tariffs could increase the core PCE (Personal Consumption Expenditures) price index, the Fed's preferred inflation measure, by 0.9%.

• The October PCE reading, expected soon, is projected to show a 2.8% rise from last year, already above the Fed’s 2% inflation target. Higher tariffs would widen this gap.

• The three countries—China, Canada, and Mexico—make up 43% of U.S. goods imports. The proposed tariffs could generate nearly $300 billion annually.

Way forward: Trump hinted the tariffs might depend on immigration and drug enforcement policy changes, suggesting they could be part of a negotiation strategy. Goldman Sachs believes Canada and Mexico are less likely to face across-the-board tariffs compared to China.

TLDR: President-elect Donald Trump's proposed tariffs on Chinese, Canadian, and Mexican goods could raise U.S. prices and worsen inflation, making it harder for the Federal Reserve to manage the economy. Goldman Sachs estimates that the tariffs could increase the core PCE price index by 0.9%.

What else is new in news

✶ Indian billionaires Gautam and Sagar Adani are accused of knowing about a U.S. bribery investigation when they sold a portion of India’s biggest solar park to TotalEnergies.

The sale of a 50% stake in the Khavda solar project for $444 million occurred in September 2024, even though authorities had already launched an investigation into the Adanis. The charges accuse them of making improper payments to Indian officials to ensure the success of the project.

Local 🇵🇰

Hoping for a break in your electricity bills in winters? Not so fast

Even your solar panels will not be able to help you now (thanks to winters).

Electricity bills are set to increase in December as the current negative Fuel Cost Adjustment (FCA) of Rs. 1.28 per unit ends in November.

The details:

• Electricity bills will go up by 26 paise per unit in December. The current Rs. 1.28 per unit discount on bills will no longer apply after November.

• This increase won’t affect domestic consumers using up to 300 units per month.

• Electricity consumption in October has been 9.98 billion units, up 7.87% from October 2023. The reason for higher consumption can be delayed winter temperatures, averaging 26°C, about 2.5°C higher than last year.

• Monthly FCAs adjust for fuel costs, while other charges, like transmission costs, are added to quarterly tariffs set by the government.

Way forward: Electricity bills will slightly increase in December due to changes in fuel cost adjustments. Affordable energy sources like hydropower and nuclear continue to dominate the supply, helping keep costs down for many users.

TLDR: Electricity bills will rise by 26 paise per unit in December as the current Rs. 1.28 per unit discount ends. Low-usage households consuming up to 300 units per month won’t be affected. October’s electricity consumption increased by 7.87%, partly due to warmer temperatures.

News Flash

✶Pakistan's exports to Central Asian countries grew by just 1.09% to $67.11 million in July-October 2024 compared to $66.38 million last year, highlighting untapped trade potential. Imports from the region, mainly Uzbekistan and Turkmenistan, saw a notable rise from $4.35 million to $43.4 million during the same period, despite regular high-level engagements.

Tech

Global 🌎️

Even AI has to deal with standardised tests

The next time you read about how “revolutionary” an AI model is, you might wanna take it with a grain of salt.

Tech companies like OpenAI, Microsoft, Meta, and Anthropic are quickly changing how they test their artificial intelligence (AI) models because AI is improving so fast that current testing methods can’t keep up.

The details:

• Companies are building AI that can perform tasks without human help, which means the models need to be able to think and plan. To test how well these AI models work, companies use benchmarks (standardized tests).

• Current tests are outdated as many AI models now score over 90% accuracy on existing benchmarks, making them less effective at measuring their true potential.

• Companies like Meta, OpenAI, and Microsoft are creating their own internal tests to better evaluate their models, but this makes it harder for the public to compare AI systems.

• Newer AI tests, like SWE-bench Verified, use real-world problems like fixing software bugs, and show that even the best models struggle with these tasks, solving only a fraction of the problems.

Way forward: AI’s ability to reason and plan is key to its success, and companies are working on tests that assess these skills, but there is still no clear way to compare models fairly across the industry.To move forward, the AI industry needs to create new tests that better measure skills like reasoning, planning, and problem-solving.

TLDR: Tech companies like OpenAI and Meta are updating how they test AI because current methods can’t measure the advanced capabilities of modern models. New benchmarks using real-world problems show even top AI struggles with complex tasks.

What else is new in news

✶ Those dusty-age-old google slides templates will have limited days left now.

Google Slides is adding new, professionally designed templates for your sales pitches and product roadmaps needs. The rollout has started and will be complete by the end of November, but they’re only available for accounts set to “English (United States).” Users can access these templates through the toolbar or the “Insert > Templates” menu in Google Slides.

Local 🇵🇰 

No fans of VPN ban

The Pakistan Software Houses Association (P@SHA) has raised concerns about the government’s plan to ban Virtual Private Networks (VPNs). They believe this move could cause huge losses for Pakistan’s IT sector, with $1 billion lost in the first year and long-term damage to jobs and exports.

The details:

• The IT sector, growing by 40% every year, might stop growing. It currently exports $3.2 billion and aims to reach $15 billion in five years. Over 700,000 professionals and 2.3 million freelancers depend on the IT sector.

• The government says VPNs pose security risks, but P@SHA argues that a total ban will hurt the economy.

• P@SHA recommends setting up a monitored VPN system, ensuring security while allowing businesses to operate smoothly.

Way forward: Instead of a complete ban, the government should collaborate with industry experts to create a solution that balances security and economic needs. A controlled VPN system can protect national security and keep the IT industry growing, supporting jobs and exports.

TLDR: P@SHA warns that banning VPNs could cost Pakistan’s IT sector $1 billion in the first year, harm growth, and risk jobs for over 700,000 professionals and 2.3 million freelancers. While the government cites security concerns, P@SHA suggests a monitored VPN system to balance security and economic needs.

Tech tour of news

✶You no longer have to submit your passport application at the district office that matches your CNIC address. Now, you can submit your passport applications at any post office in the country. The government made this change to make the process easier, and you can now collect your passport from any location.

More interesting Itla (اطلاع) we consumed:

🔢 If you need a paper and pen to do math while others seem to blurt out the answers in 0.37 seconds by just tilting their head to the side or maybe squinting their eyes a bit, you might have asked yourself this question: Why are some people better at math than others?

This video dives into that question, explaining how both genetics and environment shape our math abilities and it also included some very interesting studies that will help you feel better about yourself while also giving you hope to get better at it.

Because, unfortunately, math anxiety is a bit clingy - it follows you into your professional life as well..