Wednesday, October 5, 2022

ECC approved Rs5 per unit drop in electricity tariff

A drop in electricity tariff of Rs5 per unit has been agreed by the Economic Coordination Committee (ECC) on Monday, after Prime Minister Imran Khan’s offer of historic and significant relief to the people.

Shaukat Tarin, the Federal Minister of Finance and Revenue, presided over the meeting of the Economic Coordinating Committee.

The Ministry of Energy (Power Division) has presented a summary of the incentive package proposed by the Prime Minister in relation to a reduction in the price of energy, which is available here.

According to the ECC, the Prime Minister’s relief package, which includes a reduction in electricity tariffs by Rs5 per unit for a period of four months, was accepted (March 2022 to June 2022).

In order to implement the PM relief package, Rs136 billion in cash flow would be required, and the relief package will be available to all commercial and household non-ToU consumers with monthly consumption up to 700 units, except life-line consumers.

After much deliberation, the ECC approved the Ramzan relief package for 2022, which includes 19 necessary commodities that would be offered at subsidized rates at Utility stores, for a total subsidy of Rs8.2 billion.

Read Also: Govt to give Rs 8.28 billion Ramzan Package to Utility Stores

Sui Northern Gas Private Limited (SNGPL) will be supplied with 16mmbtu gas from the Togha Gas Field, and an Rs135 billion extra grant will be provided for the provision of actual interest on the Naya Pakistan Certificate, which was also approved by the body.

The ECC considered and accepted a summary submitted by the Ministry of Commerce on proposed revisions to the import and export policy order 2020 for the construction of an Integrated Tariff Management System (ITMS) for the Pakistan Single Window (PSW).

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