ECC approves recovery of Rs 17.15 billion from electricity consumers

ISLAMABAD: The Economic Coordinating Committee (ECC) of the Cabinet has granted approval for the recovery of an unpaid amount of Rs 17.15 billion due to adjustment of fuel prices from electricity consumers.

Official sources have confirmed that, in line with the assessment of the International Monetary Fund (IMF), the government has approved a fuel levy adjustment of 2.27 rupees per unit (FCA) to recover the unpaid amount.

The National Electric Power Regulatory Authority (Nepra) had already approved an increase in the basic electricity price of Rs 1.39 per unit. Now another increase in electricity prices is on the cards.

According to a summary, filed before the ECC, the federal government could issue directives to the regulator Nepra and also force it to reconsider its decision of August 7, 2020, to allow the recovery of the pending FCA of 17.15 billion rupees as an adjustment from the previous year in a basis change decision, which is currently underway at Nepra.

The ECC also allowed the export of wheat flour to Afghanistan while canceling floating tenders for the import of more wheat, even from government to government, taking into account the sufficient stocks available in the country. country.

Federal Economy Minister Omar Ayub Khan chaired a meeting of the ECC on Thursday. The meeting reviewed and recommended a summary, presented by the Ministry of Industries and Production, regarding the late payment surcharge for SNGPL network fertilizer plant operations between September 2018 and November 2019, with instructions to request the prior approval of SNGPL’s Board of Directors.

Eleanor C. William