ECC approves quarterly tariff hike for K-Electric consumers

• Finance Minister Dr Shamshad Akhtar is chairing the ECC meeting.
  
• Credit facility of Rs 20 billion for Green Corporate Initiative approved.
• ECC increases power tariff adjustments by Rs 1.72 per unit.

ISLAMABAD: The Economic Coordination Commission (ECC) has approved quarterly tariff adjustments of Rs 1.72 per unit for K-Electric, government guarantees of Rs 100 billion for Pakistan State Oil (PSO) and Rs 20 billion for its Green Corporate Initiative Punjab. The news reported on Saturday.

According to an official release, Federal Finance Minister Dr Shamshad Akhtar chaired the ECC session, which was also attended by other federal ministers and senior officials.

The meeting considered the briefs submitted by various ministries such as Ministry of Home Affairs, Ministry of Maritime Affairs, Ministry of Energy (Electricity Department), Ministry of Energy (Petroleum Department), Ministry of Poverty Alleviation and Social Security and Ministry of Defence.

The approval for the K-Electric tariff revision was given after consultation on a summary submitted by the Ministry of Power on “Uniform Quarterly Tariff Revisions for K-Electric Consumers at par with XWDISCOs 2nd & 3rd Trimmary FY 2023”.

After detailed discussion, it was decided by the ECC that tariff rationalization through adjustments for KE as per uniform QTA implementation guidelines already issued in NEPRA, will be applicable for July, August and September 2023 consumption to be recovered. by K-Electric consumers in December 2023, January 2024 and February 2024, respectively.

Further, implementation of XWDISCO’s 2nd QTA of Rs.0.4689/unit, already approved for K-Electric consumers, as per uniform QTA implementation instructions already issued to Nepra, will be applicable for April, May consumption and June. 2023 will be redeemed by K-Electric consumers in December 2023, January 2024 and February 2024, respectively.

The participants also discussed a brief submitted by the Ministry of Maritime Affairs on “Revision of Lighthouse Fees” and after detailed discussion, decided to revise the Lighthouse Fees from Rs7/NRT to Rs20/NRT, as per Article 10(1 ) of the Lighthouse Act, 1927.

An outline submitted by the Ministry of Power to extend the ceiling of Rs 100 billion government guarantee in favor of PSO till December 2024 was also approved, subject to the approval of the terms and conditions of each financing facility by the Finance Directorate at the time of renewal.

A proposal for disbursement of Rs 20 billion credited to the Federal Government Account by the Punjab Finance Department government for further disbursement to Green Corporate Initiative (Pvt) for Green Pakistan Initiative was also discussed.

The ECC approved the disbursement with the observation that provincial governments may work directly with companies operating under the Green Pakistan initiative for future disbursements.

Another summary submitted by the Ministry of Poverty Alleviation and Social Security on “Grant of Special Relief Package for Chaman Border Daily Labourers” was also considered.

After detailed discussion and consultation, the ECC asked the BISP to look into the cases of 8,000 registered daily wage earners employed in the Chaman border to see if they were already in its system and provide support to the eligible from its budget in consultation with the Finance Ministry , Government of Balochistan for subsequent reimbursement of the amount to be spent on providing six months’ support to the daily wage labourers.

The summary, submitted by the Ministry of Home Affairs, regarding the Technical Supplementary Grant of Rs.47.45 million within the approved budget, for repair and maintenance, during CFY 2023-24 was considered and approved.

Originally published on The news