ECC approves tariff rationalization for K-electric.

ISLAMABAD -- The Economic Coordination Committee (ECC) approved on Wednesday the tariff rationalization for K-Electric by way of adjustments of increase Rs0.571/unit with recovery period of three months.

Ministry of Energy, Power Division submitted a summary on tariff rationalization for power sector. As per National Electricity Policy 2021, the government may maintain a uniform consumer-end tariff for K-Electric and state owned distribution companies.

Accordingly, KE applicable uniform variable charge is required to be modified to maintain the uniform tariff across the country.

The National Electric Power Regulatory Authority (NEPRA) would issue revised schedule of tariff determined for the Quarter October to December, 2021, or incorporate in the latest schedule of tariff for the quarter Jan- March 2022 after incorporating tariff rationalization.

On another summary of Power Division on settlement of payables to Government owned Power Plants at par with IPPS, the ECC allowed release of Rs. 17 billion during current financial year i-e FY 22 as investment in DISCOs for payment to RLNG based public power plants ( Haveli Bahadur Shah, Bhikki and Balloki Power Plants) to meet the cash requirement.

Ministry of Energy, Power Division submitted another summary on notification of quarterly tariff adjustments (QTAs) of K-Electric Limited and associated financial impact. The ECC after detailed discussion allowed utilizing available budget of Rs. 36.948 billion as advance subsidy in FY-22 for onward release to CPPA-G due to paucity of time.

Federal Minister for Finance and Revenue Miftah Ismail presided over the meeting of the ECC here while it was attended by Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Federal Secretaries, Chairman FBR and senior officers attended the meeting.

The ECC considered and approved a supplementary grant of Rs. 1224.41 Million in favour of Ministry of Interior for payment to the families of deceased/...