Karachi June 22 2022: Ministry of Energy, Power Division submitted a summary on tariff rationalization for K-Electric to Economic Coordination Committee (ECC) which is presided by Federal Minister for Finance and Revenue Mr. Miftah Ismail at Finance Division, today
As per National Electricity Policy 2021, the Government may maintain a uniform consumer-end tariff for K-Electric and state owned distribution companies. Accordingly, KE applicable uniform variable charge is required to be modified to maintain the uniform tariff across the country.
The ECC approved tariff rationalization for K-Electric by way of adjustments of increase Rs. 0.571/unit with recovery period of three months. Further, NEPRA to issue revised schedule of tariff determined for the Quarter October to December, 2021, or incorporate in the latest schedule of tariff for the quarter Jan- March 2022 after incorporating tariff rationalization.
On another summary of Power Division on settlement of payables to Government owned Power Plants at par with IPPS, the ECC allowed release of Rs. 17 billion during current financial year i-e FY 22 as investment in DISCOs for payment to RLNG based public power plants ( Haveli Bahadur Shah, Bhikki and Balloki Power Plants) to meet the cash requirement. Ministry of Energy, Power Division submitted another summary on notification of quarterly tariff adjustments (QTAs) of K-Electric Limited and associated financial impact.
The ECC after detailed discussion allowed utilizing available budget of Rs. 36.948 billion as advance subsidy in FY-22 for onward release to CPPA-G due to paucity of time.
The ECC considered and approved a supplementary grant of Rs. 1224.41 Million in favour of Ministry of Interior for payment to the families of deceased/ Shaheed employees under Prime Minister’s Assistance package in order to support the families of Shuhda/deceased of ICT Police who have sacrificed their lives in the line of duty.
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