November 19, 2024 (MLN): The Economic Coordination Committee (ECC) of the Cabinet has approved a new electricity tariff of Rs26.07/kWh for eligible consumers, applicable to incremental consumption exceeding the benchmark levels for the corresponding months.
The revised rates will be in effect for a three-month billing period from December 2024 through February 2024.
The benchmark consumption will be the higher of either the relevant month’s consumption in FY2024 or the historical consumption over the past 3 years for the relevant months, based on a formula and terms and conditions laid before the ECC.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired the meeting of the ECC of the Cabinet held at Finance Division, today.
The ECC considered proposal submitted by the Ministry of Energy (Power Division) regarding a winter demand initiative for the industrial, domestic (ToU and non-ToU consumers exceeding 200 units, commercial and general services consumers of discos and K-Electric to enable optimum use of system generation capacity besides reducing gas demand due to shifting of favourabe demand towards electricity.
It was proposed that under the initiative, a tariff of Rs26.07/kWh shall be charged to all eligible consumers on the respective incremental consumption, above the benchmark consumption in the corresponding months.
The ECC discussed the proposal and approved it, calling the subsidy-neutral interim relief initiative worked out by the Power Division as being timely and relevant in view of recent surge in electricity tariffs and the reduced demand across various consumer categories.
The ECC also considered a proposal submitted by National Disaster Management Authority (NDMA) for transfer of Rs3.14 billion balances of erstwhile Emergency Relief Cell (ERC) into NDMA Fund to carry out its inland as well as overseas rescue and relief operations in line with the statutory mandate of the Authority.
The proposal was discussed and approved with the proviso that since the balances in the ERC were made up of public donations and were granted for the purpose of relief, rescue, and rehabilitation of floods and earthquake victims, NDMA would spend these balances for the stated purpose.
Copyright Mettis Link News
Posted on: 2024-11-19T16:30:55+05:00
