The Economic Coordination Committee (ECC) of the cabinet has approved an incentive package announced by the Prime Minister regarding reduction in Rs5 per unit price of electricity.
Federal Minister for Finance and Revenue Shaukat Tarin chaired the ECC meeting.
The Ministry of Energy (Power Division) submitted a summary on an incentive package announced by the Prime Minister regarding reduction in price of electricity.
The ECC approved PM’s relief package of Rs5 per unit by way of reduction in electricity charges base rate for the relief period of four months (March 2022 to June 2022).
The cash flow requirement for the PM relief package is Rs136 billion and the relief package will be applicable to all commercial and domestic non-ToU consumers having monthly consumption up to 700 units, excluding life-line consumers.
It is pertinent to note that NAPRA in September last year changed the definition of lifeline consumer.
Now the lifeline consumers using up to 100 units per month are paying Rs3.95 per unit. Earlier, just consumers using up to 100 units per month were paying Rs3.95 per unit.
ECC also approved special price differential claims (PDC) disbursement mechanism to pay the PDC speedily within 15 days, opening of special assignment account with PSO and initial amount of Rs20 billion to PSO in accordance with the mechanism.
The Ministry of Energy (Petroleum Division) submitted another summary on reimbursement of price differential claims of oil marketing companies (OMCs) and refineries, in line with the PM relief package of reduction in the consumer prices of petrol and diesel by Rs 10 per litre.
The ECC after discussion also approved Ramzan relief package 2022 for 19 essential items to be sold at subsidized rates at Utility stores with a total subsidy of Rs8.2 billion.
ECC approved Kamyab Overseas Programme (KOP) as a new component of Kamyab Pakistan Programme. The new initiative is meant for prospective low income overseas workers having confirmed foreign job offer, employment agreement and valid travel documents and registered with NSER to avail interest free loans under KPP.
Maximum amount of loan would be Rs300,000 and returned in easy installments starting after three months of departure. The loan will be provided to 10,180 beneficiaries with estimated required funds of Rs3 billion for the 4th quarter of 2021-22.
ECC considered and approved a summary presented by the Ministry of Commerce on proposed amendments in the import and export policy order 2020 for the development of Integrated Tariff Management System (ITMS) for Pakistan Single Window (PSW).
