By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved quarterly adjustments of 57 paise per unit in July, August and September bills of K=Electric consumers to adjust Rs90 billion outstanding cost of electricity consumed by the city residents five years back.
The ECC also approved a total of Rs177 billion supplementary grants, including the payment of Rs37 billion to K-Electric for the tariff differential subsidy (TDS) and Rs96 billion to 11 independent power producers (IPPs) set up under the 2002 power policy as the second instalment of the committed payments under the 2021 renegotiated agreements.
Finance Minister Miftah Ismail chaired the ECC meeting.
“The ECC approved tariff rationalisation for K-Electric by way of adjustments of increase Rs0.571 per unit with a recovery period of three months,” a statement said. This increase in tariff is on account of quarterly adjustments for July-September 2021.
In addition, the National Electric Power Regulatory Authority (Nepra) was asked to issue a revised schedule of tariff (SOT) for October-December 2021 or incorporate it in the latest schedule of tariff for the Jan-March quarter after incorporating tariff rationalisation.
The ECC allowed the release of Rs17 billion in the current financial year as investment in ex-Wapda Discos for the payment to RLNG-based public power plants (Haveli Bahadur Shah, Bhikki and Balloki) to meet their cash requirements.
The ECC also approved the payment of Rs96 billion to 11 IPPs set up under the 2002 power policy whose final settlement of tariff renegotiations had been hampered by the National Accountability Bureau (NAB) investigations.
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