ECC session summoned tomorrow to discuss Steel Mills' workers salaries, other concession packages

ISLAMABAD: A meeting of Economic Coordination Committee (ECC) has been convened on Wednesday (tomorrow) in order to deliberate on the issue of outstanding salaries of Steel Mills’ employees and other concessional packages for oil and gas sector.

Under the chair of Finance Minister Asad Umer, the meeting will decide on paying one-month salary to the workers of state owned mill. Additionally, the escalating financial problems of gas and oil sectors will come under the discussion and the ECC will ponder over granting concessional packages to facilitate the two sectors.

The total deficit of payments by Pakistan States Oil (PSO) and other companies has soared up to Rs330 billion; a course of action to pay the pending money is also expected to be chalked out by the committee.

During its last meeting, the Economic Coordination Committee of the federal cabinet approved a hike in power tariff for households consuming over 300 units per month.

The committee decided that electricity prices would not be raised for domestic consumers using 300 units or less every month.

However, households that consume between 300 and 700 units per month will witness a rise in electricity prices of roughly ten percent or Rs1.18 per unit., and a fifteen percent increase will be introduced for those consuming above 700 units.