ECC okays Rs100b for PSO

The Economic Coordination Committee (ECC) has given the nod for an extension in the government’s guarantee ceiling of Rs100 billion in favour of Pakistan State Oil (PSO) till the end of next month.

The ECC session was held under the chair of Caretaker Finance Minister Dr Shamshad Akhtar today.

The ECC approved the disbursement of Rs20 billion credited to the Federal Government Account by the Finance Department Government of Punjab for further disbursement to the Green Corporative Initiative, a press release read.

It is pertinent to mention here that the outstanding dues of Pakistan State Oil (PSO) from various governments and private sectors have now surged past a staggering Rs700 billion.

Additionally, the committee okayed Rs5 billion for the Digital Information Infrastructure project and Rs47.45 million for the Interior Ministry. The forum decided to revise the lighthouse dues from seven rupees to Rs20 per NRT after deliberating on a summary submitted by the Ministry of Maritime Affairs.

Following a summary of the Ministry of Poverty Alleviation, the forum asked the Benazir Income Support (BISP) to examine the cases of 8,000 registered daily wage workers employed at the Chaman border to see whether they were already in its system and provide support to the eligible ones from its allocated budget in consultation with the Government of Balochistan.

The Economic Coordination Committee has also made the decision on the Uniform Quarterly Tariff Adjustments for K-Electric consumers.

It has been decided that the tariff rationalization guidelines already issued to National Electric Power Regulatory Authority (NEPRA) shall be applicable on the consumption of July, August, and September 2023 to be recovered from K-Electric consumers in December 2023, January 2024, and February 2024, respectively.

Following the decision, the electricity tariff would be hiked by Rs1.72 per unit for the K-Electric consumers.

Sources said that Rs1.25 per unit would be hiked in terms of quarterly adjustment from January to March 2023, whereas, Rs0.47 per unit would be increased in terms of quarterly adjustment from October to December 2023.

Sources added that the decision was taken for maintaining uniform electricity tariff across the country.