ECC approves increase in power tariff for K-Electric consumers

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal 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 chaired by Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh discussed quarterly adjustments of K-Electric from 2016 to 2019. The fuel adjustment charges for the month of September would be charged in consumer bills next month.

The ECC directed the Finance and Power Divisions to provide K-Electric a subsidy worth Rs4.7 billion.The meeting also approved $142 million for meeting the financial requirements of Hotel Roosevelt in New York.

READ MORE: NEPRA approves increase in power tariff for July

Yesterday, 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 for the month of July.

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. The consumers would pay Rs12 billion which would be recovered in the billing of next month