business
Saturday Oct 01 2022
By
Web Desk

ECC approves hike in electricity prices for KE consumers

By
Web Desk
Finance Minister Ishaq Dar presiding ECC meeting. —PID
Finance Minister Ishaq Dar presiding ECC meeting. —PID

  • Finance Minister Ishaq Dar presided first ECC meeting after taking oath.
  • ECC approved Dealer Transfer Price (DTP) of 50 kg imported Urea bag.
  • Meeting also approved clearance of prohibited articles declared till August 22.


A day after a cut in electricity prices by National Electric Power Regulatory Authority (NEPRA), Economic Coordination Committee (ECC) on Friday approved an increase in electricity prices for K-Electric consumers, Geo News reported.

A day prior to ECC meeting, National Electric Power Regulatory Authority (NEPRA) has approved an electricity price cut of Rs4.87 per unit under fuel charges adjustment for the month of August.

The decision to increase electricity prices for Karachiites has been taken in the ECC meeting chaired by the new Finance Minister Ishaq Dar.

To implement a uniform tariff, Rs0.51 per unit has been increased for K-Electric consumers.

ECC also approved the Dealer Transfer Price (DTP) of 50 kg imported Urea bag and set the price at Rs2150/bag.

As per ECC, the federal and provincial governments both will provide 50-50 per cent subsidies on imported urea bags.

The ECC meeting under new finmin also approved clearance of prohibited articles declared till August 22. In addition, the extension has also been granted in the validity period of the eighteen exploration licenses for the search for oil and gas.

NEPRA approves electricity price cut

The National Electric Power Regulatory Authority (NEPRA) has approved an electricity price cut of Rs4.87 per unit under fuel charges adjustment for the month of August.

The approval given during the hearing of a case for fuel charges adjustment requisitions came as a sigh of relief for Karachiites who have been bearing the burden of heavy electricity bills despite continuous power cuts in the name of load-shedding.

During the hearing, NEPRA Chairman Tauseef H Farooqi was informed that the KE has filed a petition for an electricity price cut of Rs4.21 per unit.