Govt likely to jack up electricity prices by Rs3.75

ISLAMABAD: The Pakistan Tehreek-e-Insaf-led federal government is likely to hike electricity tariff by up to Rs3.75 per unit this week, ARY News reported.

Sources said Finance Minister Asad Umar will preside over a meeting of the Economic Coordination Committee (ECC) of the cabinet tomorrow during which a decision will likely be taken about an increase in electricity tariff for the year 2017-18.

The increase in electricity price would yield around Rs400 billion for the national kitty.

During the previous meeting of ECC on Oct 2, the consideration of a proposal regarding tariff rationalization for power sector was deferred on a request from the finance and power divisions who asked for further time to deliberate the proposed revisions.

ECC, however, approved the proposal from the commerce division for export of one million metric ton (1-MMT) surplus sugar.

“No freight or financial support will be provided to millers/exporters by the federal/provincial governments in this regard. Only those sugar mills will be allowed to export sugar which have paid arrears to farmers for all the crops up to 2017-18,” read a statement issued after the meet.

Moreover an inter-ministerial committee will have fortnightly meetings to review sugar stock, export and price situation.

The ECC accorded approval for revision of cess rates of tobacco for the year 2018-19 as determined by the Pakistan Tobacco Board. It may be added that prices of various types of tobacco are fixed every year and cess rates are also revised.

In consideration of proposal submitted by the ministry of privatization, ECC approved disbursement of Rs. 375 million on account of net salary for the employees of Pakistan Steel Mill for the month of August 2018.