ECC meeting in Islamabad takes important decisions

ECC meeting in Islamabad takes important decisions

ISLAMABAD: The Economic Coordination Committee (ECC) meeting in Islamabad takes important decisions.

ECC on Thursday approved quarterly adjustment of Rs0.15 per unit in power tariff after incorporating an additional charge of Rs0.11 per unit for maintaining uniform tariff on all categories of consumers except lifeline and domestic consumers, ARY News reported.

According to a statement issued by the ministry, the increase will come into effect from 1st of December for the next twelve-monthly billing cycle would not be applicable to nearly 20 million using up to 300 units per month, out of the total 30 million consumers while 600,000 of the remaining one million consumers would only pay 7 paisa per unit as a result of this increase.

Read More: *Minister defends power tariff hike, slams PML-N for ‘keeping prices unchanged link*

The ECC also constituted a committee headed by Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh to examine the current framework of determining power tariff and make it more simple in line with the practice in mature markets.

The ECC also considered a set of proposals from the Ministry of Energy (Power Division) for risk mitigation post-privatisation of National Power Parks Management Company, especially the impact on fuel basket price due to non or reduced off-take of 66 per cent generation under the PPA till year 2024 and cost of diversion of Regasified Liquefied Natural Gas (RLNG) to other sectors with workable options to mitigate the risk, read the statement.