- Finance Minister Dr Shamshad Akhtar chairs ECC meeting.
- Rs20bn credit facility for Green Corporate Initiative okayed.
- ECC hikes power tariff adjustments by Rs1.72 per unit.
ISLAMABAD: The Economic Coordination Committee (ECC) has approved the Rs1.72 per unit quarterly tariff adjustments for K-Electric, government guarantees of Rs100 billion for Pakistan State Oil (PSO) and Rs20 billion credit facility for the Punjab’s Green Corporative Initiative, The News reported Saturday.
According to an official announcement, Federal Minister for Finance Dr Shamshad Akhtar chaired the ECC session which was also attended by other federal ministers and senior officials.
The meeting considered the summaries submitted by various ministries, including the Ministry of Interior, Ministry of Maritime Affairs, Ministry of Energy (Power Division), Ministry of Energy (Petroleum Division), Ministry of Poverty Alleviation and Social Safety, & Ministry of Defence.
The approval for the KE tariff adjustment was given after deliberations on a summary submitted by the Ministry of Energy regarding “Uniform Quarterly Tariff Adjustments for K-Electric Consumers on a par with XWDISCOs 2nd & 3rd Quarterly FY 2023”.
After detailed discussion, it was decided by the ECC that the tariff rationalisation by way of adjustments for KE in line with the uniform QTA application guidelines already issued to NEPRA, shall be applicable on the consumption of July, August, and September 2023 to be recovered from the consumers of K-Electric in December 2023, January 2024, and February 2024, respectively.
Moreover, the application of XWDISCOs’ 2nd QTA of Rs0.4689/unit, already approved for K-Electric consumers, in line with the uniform QTA application guidelines already issued to Nepra, shall be applicable on the consumption of April, May, and June 2023 to be recovered from consumers of K-Electric in December 2023, January 2024, and February 2024, respectively.
The participants also discussed a summary submitted by the Ministry of Maritime Affairs regarding the “Revision of Lighthouse Dues” and after a detailed discussion, decided to revise the Lighthouse dues from Rs7/NRT to Rs20/NRT, under Section 10(1) of the Lighthouse Act, 1927.
A summary submitted by the Ministry of Energy seeking an extension of the government guarantee ceiling of Rs100 billion in favour of PSO till December 2024 was also okayed, subject to approval of the terms and conditions of each financing facility by the Finance Division upon renewal.
A proposal for disbursement of Rs20 billion credited to the Federal Government Account by the Finance Department Government of Punjab for further disbursement to Green Corporative Initiative (Pvt) for Green Pakistan Initiative was also discussed.
The ECC approved the disbursement with the observation that the provincial governments may directly engage with companies operating under the Green Pakistan Initiative for future disbursements.
Another summary submitted by Ministry of Poverty Alleviation & Social Safety regarding the “Grant of Special Relief Package for Daily Wage Workers on Chaman Border” was also considered.
After detailed discussion and deliberation, the ECC asked the BISP to examine the cases of 8,000 registered daily wage workers employed at the Chaman border to see whether they were already in its system and provide support to the eligible ones from its allocated budget in consultation with the Finance Department, Government of Balochistan for later reimbursement of the amount to be spent on providing six-months support to the daily wage workers.
The summary, submitted by the Ministry of Interior, regarding the Technical Supplementary Grant amounting to Rs47.45 million within the sanctioned budget, for repair and maintenance, during CFY 2023-24, was considered and approved.
Originally published in The News
