ECC approves tariff adjustment for K-Electric consumers for 1QFY24

November 11, 2023 (MLN): The Economic Coordination Committee (ECC) in its meeting held on Friday approved tariff rationalization for K-Electric consumers in line with the uniform Quarterly Tariff Adjustment guidelines (QTA) issued to NEPRA, applicable to consumption in 1QFY24, as per a press release issued on the said day.

The Ministry of Energy tabled the summary regarding the Uniform Quarterly Tariff Adjustments for K-Electric Consumers at par with XWDISCO's 2nd & 3rd Quarterly FY 2023.

As per the committee’s decision, the tariff adjustment will be applicable to the consumption of July, August, and September 2023 and will be recovered from 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, 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 ECC also discussed and approved a summary submitted by the Ministry of Energy for the extension of the GOP guarantee ceiling of Rs100 billion in favor of PSO till December 2024, subject to the approval of terms and conditions of each financing facility by the Finance Division upon renewal.

The summary submitted by the Ministry of Maritime Affairs regarding the “Revision of Lighthouse Dues” was also revied and after detailed discussion, decided to revise the Lighthouse dues from Rs. 7/ NRT to Rs. 20/NRT, under Section 10(1) of the Lighthouse Act, 1927.

A proposal for disbursement of Rs20bn to 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 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 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.

For the eligible ones, the committee proposed that BISP shall support them 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 of support to the daily wage workers.

The summary submitted by the Ministry of Interior regarding Technical Supplementary Grant amounting to Rs47.45 million within the sanctioned budget, for repair and maintenance, during CFY 2023-24, was considered and approved.

ECC also considered a summary submitted by the Ministry of Information Technology & Telecommunication and approved the release of Rs5bn as bridge finance from the R&D Fund for the Digital Information Infrastructure project.

The Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar along with other government officials presided over a meeting of the ECC.

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