latest news- ECC approves over Rs47bn for conduct of general elections breaking news

Finance Minister Ishaq Dar presided over a meeting of the Economic Coordination Committee in Islamabad on November 29, 2022. PID ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday granted approval of Rs47.417 billion for the El...

latest news- ECC approves over Rs47bn for conduct of general elections breaking news

Finance Minister Ishaq Dar presided over a meeting of the Economic Coordination Committee in Islamabad on November 29, 2022. PID ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday granted approval of Rs47.417 billion for the El...

latest news- ECC approves over Rs47bn for conduct of general elections breaking news
30 Kasım 2022 - 04:55

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Finance Minister Ishaq Dar presided over a meeting of the Economic Coordination Committee in Islamabad on November 29, 2022. PID
Finance Minister Ishaq Dar presided over a meeting of the Economic Coordination Committee in Islamabad on November 29, 2022. PID 

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday granted approval of Rs47.417 billion for the Election Commission of Pakistan (ECP) for holding upcoming general elections in 2022-23 and 2023-24 and slapped a 5 per cent regulatory duty on filament yarn. It also reduced the base tariff for electric tube wells from Rs16.60/kWh to Rs13/kWh in line with the Kissan Package.

The ECC approved Rs18.655 billion for the ECP during the ongoing financial year 2022-23 while Rs28.762 billion for the next fiscal year 2023-24 as technical supplementary grants for holding the upcoming general elections in Pakistan. The ECC also approved a uniform tariff for K-Electric as a residential tariff for peak hour fixed at Rs3.21 per kWh, commercial peak tariff of Rs4.45 per kWh, industrial tariff of Rs4.45 per kWh and agriculture peak tariff of Rs4.45 per kWh etc.

The ECC approved Rs93.438 billion for payment of government-owned power plants, including Rs43.698 billion to the Pakistan Atomic Energy Commission (PAEC), Rs33.636 billion to WAPDA and Rs16.377 billion NPPMCL (National Power Park Management Company).

According to an official statement issued here on Tuesday, Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee. The Finance Division submitted a summary of the launch of Credit Guarantee Scheme under the Credit Guarantee Trust Fund through Second Supplemental Trust Deed.

The Ministry of National Food Security & Research submitted a summary on the fixation and notification of Minimum Indicative Prices of Tobacco Crop 2023.

The Power Division submitted a summary of the uniform tariff for K-Electric. It was submitted that KE’s applicable uniform variable charge is required to be modified to maintain the uniform tariff across the country with category-wise increases including general supply tariff – residential, general supply tariff – commercial, industrial supply tariff, bulk supply tariff, agriculture tariff and public lighting with a recovery period of four months.

It was also shared such adjustment shall be applicable on the consumption from Oct-22 to Jan-23 to be recovered from consumers in Dec-22 to Mar-23, respectively. The ECC also approved this proposal. The Power Division submitted another summary on the settlement of payables to government-owned power plants at par with IPPS. The ECC approved a Technical Supplementary Grant of Rs93.438 billion in three tranches of Rs31.146 billion each.

The ECC discussed the summary submitted by the Ministry of National Food Security & Research submitted on Kissan Package-2022 and approved the base tariff for electric tube wells at Rs13/kWh from Rs16.60/kWh, providing relief to farmers of Rs3.60/kWh effective from 1st November 2022 to compensate the damage caused by the floods and heavy rains. The Ministry of Information and Broadcasting submitted a summary for the allocation of budget to launch comprehensive media awareness campaigns on government initiatives, programmes and projects. The ECC approved a Supplementary Grant of Rs2 billion for flood-related media campaigns. The ECC approved Rs15 billion in favour of the Election Commission of Pakistan for the current financial year 2022-23. Out of Rs15 billion, Rs5 billion will be released immediately while the balance will be released in tranches on utilization of the first tranche.

The ECC also approved a technical supplementary grant amounting to Rs162.521 million in favour of the Ministry of Housing and Works in addition to approving Rs250 million for the execution of a development scheme titled “Construction of Railway Underpass, Gojra, District Toba Tek Singh” and Rs144.210 million for the execution of development schemes in District D.I. Khan.



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