ECC postpones decision of hike in prices of electricity

ISLAMABAD (92 News) – The Economic Coordination Committee (ECC) on Tuesday has postponed the decision of hike in the power tariff by Rs3.75 per unit until a week. The meeting was chaired by Finance Minister Asad Umar. The summary regarding a hike in power tariffs was presented in the ECC meeting, however, due to the absence of the finance secretary decision has been postponed till next meeting. At its meeting, Economic Coordination Committee approved the mechanism for supply of uninterrupted gas to zero rated export oriented industry. The meeting approved the supply of RLNG to the export industry for three months from December this year to February next month. According to the mechanism, the export sectors will be provided mix energy including RLNG from March to November. On Monday summary prepared by the government, recommendations have been made for increase in prices for the years 2016-17 and 2017-18 as per which the price per unit is expected to rise to Rs3.75.