ECC approves reduction of Rs5 in electricity prices


Picture showing electrical grids. — Alyoshine/Pixabay
Picture showing electrical grids. — Alyoshine/Pixabay 
  • ECC approves “XWDISCOs and K-Electric commercial consumers having sanctioned load less than 5 kW.”
  • It also approves “supplementary grant of Rs106 billion in head of TDS.”
  • Finance Division and AGPR shall release subsidy in advance at start of every month, per notification. 

In line with Prime Minister Imran Khan’s announcement regarding a Rs5 decline per unit in electricity prices, the Ministry of Energy sought an incentive package that has been approved by the Economic Coordination Committee (ECC) for March 2022 to June 2022.

According to a notification issued by the National Electric Power Regulatory Authority (NEPRA), the ECC has approved the following proposals of the summary.

The ECC has greenlighted “XWDISCOs and K-Electric commercial consumers having sanctioned load less than 5 kW and domestic non-TOU consumers having monthly consumption up to 700 units (except lifeline consumers)” eligible for the prime minister’s relief package.

The committee approved PM’s relief package of a “reduction of Rs5 per unit in consumer bill for eligible consumers for the package, which will be worked out based on the applicable notified schedule of tariff for the relief period of four months.” 

The ECC also approved the “supplementary grant of Rs106 billion in the head of tariff differential subsidy (TDS) and release the same to the Power Division for implementation of PM’s relief package.”

The notification also read that the Finance Division and Accountant General Pakistan Revenues (AGPR) shall release the subsidy in advance at the start of every month which will be divided into four instalments with Rs26.5 billion each.

The notification further said that the first instalment will be released on an immediate basis. However, the rest of the releases are to be made at the beginning of each month (April, May and June). “The adjustment will be submitted after due reconciliation subsequently,” it read. Moreover, the committee has been authorised to notify the PM’s package based on the points stated above.

The authority claimed to have no objection regarding the proposal as it does not impact the NEPRA determined tariff. 

PM announces Rs5 reduction in electricity prices 

In February, the premier had announced a host of economic relief measures. He said the government was reducing the petrol, diesel, and electricity prices, while it would not be increased till the next budget, which will be announced in June.

The prime minister said that the government had decided to reduce petrol and diesel prices by Rs10 and the electricity tariff will drop by Rs5. “The price of these commodities will not rise till the next budget.”

Source link

Leave a reply

Please enter your comment!
Please enter your name here