ECC again defers power tariff hike

The Economic Coordination Committee (ECC) meeting, chaired by Finance Minister Asad Umar, has again deferred the decision to increase the power tariff.

During the meeting on Monday, the finance minister underscored the need to improve the collection mechanism of outstanding payments from different departments.

The summary regarding a hike in power tariffs was presented in the ECC meeting, however, the surge in electricity rates was postponed once again following an earlier delay in the decision which was expected on October 16.

According to the summary prepared by the government on October 15, “Recommendations have been made for an 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.”

The summary also included arrears amounting to an additional Rs400 billion to be collected from consumers every month.

After an increase in the gas tariff, the government was likely to increase the prices of electricity by Rs3.81 per unit.

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