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ECC approves tariff hike of Rs1.09 for K-Electric

ECC approves tariff hike of Rs1.09 for K-Electric
September 2, 2020
ISLAMABAD (92 News) - The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved an increase of up to Rs1.09 per unit in the tariff for K-Electric on account of quarterly adjustments. The ECC meeting was chaired by Adviser on Finance Dr Abdu Hafeez Shaikh. During the meeting, the issue of quarterly adjustments of K-Electric Limited for the period from 2016 to 2019 was discussed. The fuel adjustment charges for the month of September would be charged in consumer bills in next month. The ECC directed the Finance and Power Divisions to facilitate K-Electric through subsidy amounting to Rs4 billion. The ECC meeting also approved $142 million for meeting the financial requirements of hotel Roosevelt. Earlier on Tuesday, the National Electric Power Regulatory Authority (Nepra) had approved Rs0.86 per unit increase in power tariff on account of fuel cost adjustment of electricity. The power regulator gave its approval after hearing a request by the Central Power Purchasing Agency (CPPA) that sought an increase of Rs0.86 in electricity rates. This tariff hike will put an additional burden of Rs10 billion on power consumers.
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