ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved tariff rationalisation for electricity like in other parts of the country.
The Economic Coordination Committee (ECC) meeting of the cabinet was held last Wednesday (Wednesday) under the chairmanship of Federal Finance Minister Miftah Ismail. At the event, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Electricity Khurram Dastgir Khan, Federal Minister for Industry and Production Makhdoom Syed Murtaza Mehmood, Minister of State for Finance and Revenue Dr. Ayesha Ghos Pasha, Minister of State for Petroleum Mossadegh Malik, Prime Minister’s Coordinator for Economy Bilal Azhar Kayani, Prime Minister’s Coordinator for Trade and Industry Rana Ehsan Afzal, Federal Secretaries and senior officers participated.
The meeting reviewed in detail the summary presented by the Ministry of Energy (Power Division) regarding tariff rationalisation for the power sector, which stated that under the Government’s National Electricity Policy 2021, the same for electric and public distribution companies. End user may retain tariff.
After a detailed review of the summary, the ECC approved tariff rationalisation for electricity similar to other parts of the country, along with quarterly adjustments to K Electric from consumers for the period October–December 2021. A collection of Rs 1.55 per unit was also allowed. This amount will be charged on July-September bills.
After reviewing the summary presented by the Ministry of National Food Security and Research in the meeting, the ECC also approved the award of the Third International Wheat Tender 2022, which opened on July 18, 2022.
ECC, after detailed review, approved the lowest bid of $404.86 per metric tonne for one hundred and twenty thousand metric tonnes of wheat by M/s Witter BV Marine International for this tender, in addition to allowing the Trading Corporation to purchase another 3 lakh metric tonnes of wheat at a cost of Rs 27.4 billion.
Apart from this, ECC also approved the import of 2 lakh tonnes of urea. At the meeting, a summary regarding the rate of petroleum levy on liquefied petroleum gas (LPG) was presented by the Ministry of Energy (Petroleum Division). The ECC has returned the summary to the Ministry for revision of the proposal.