ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) has given approval to the National Electric Power Regulatory Authority (Nepra) to raise the power tariff.
The ECC gave the approval to Nepra in an ECC meeting chaired by Minister for Finance Senator Ishaq Dar.The ECC approved the issuance of policy directive to Nepra to build in costs incurred by the power sector into the tariff without affecting the end consumer.
The ECC also accorded approval for the extension of GSA between the Oil and Gas Development Corporation Limited (OGDCL) and Fauji Kabirwala Power Company Limited (FKPCL) for the provision of 20mmcfd of gas at the earliest possible but not later than February 1 till the time LNG was made available to the company for power generation. At its maximum generation capacity utilisation, the plant will generate 157MW of electricity.
Nepra was empowered to grant a licence authorising the licensee to engage in the construction, ownership, maintenance and operation or specified transmission facilities on specified terms and conditions in the public interest.
The ECC also approved the re-lending of the buyer credit loan to PAEC as per actual terms and conditions available to the Government of Pakistan.Based on the above approval; the revised rate comes to nine percent comprising the actual cost of loan and exchange rate risk.
