Govt cuts power tariffs for farmers

The federal government has decided to cut power tariffs for farmers using tube wells at Rs 13/kWh from Rs. 16.60/kWh, as it seeks to facilitate them ahead of the upcoming Rabi season, reported 24NewsHD TV channel.

A decision to this effect was taken during a meeting of the Economic Coordination Committee (ECC) of the federal cabinet which was held in Islamabad on Tuesday. Federal Minister for Finance Ishaq Dar presided over the meeting of ECC.

Federal Minister for Food Tariq Bashir Cheema, Federal Minister for Power Khurram Dastgir, Federal Minister for Industries and Production Murtaza Mahmud, Federal Minister for Information Marriyum Aurangzeb, Federal Minister for Planning Ahsan Iqbal, Shahid Khaqan Abbasi and senior officers attended the meeting.

The ECC allowed the launching of a new scheme titled, Credit Guarantee Trust Scheme for low-income housing through Second Supplemental Trust Deed with an amount of US$85 million to be obtained from the World Bank (WB) to provide risk cover to financing institutions against their financing in the housing sector.

The Ministry of National Food Security submitted a summary on the fixation and notification of Minimum Indicative Prices of Tobacco Crop 2023. After detailed deliberation, the ECC approved minimum indicative prices for various types of tobacco for different areas the for 2023 tobacco crop.

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.

The ECC after deliberation approved this proposal.

The Ministry of Commerce submitted a summary on Individual Tariff Rationalization proposals from different sectors for review of Regulatory Duties (RDs). The ECC after discussion approved the proposal.

The meeting also approved a supplementary grant of Rs 2 billion for flood related media campaigns.

ECC approved Rs. 15 billion in favour of the Election Commission of Pakistan for the Current Financial Year 2022-23. Out of Rs. 15 billion, Rs. 5 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 Rs. 162.521 million in favor of the Ministry of Housing and Works.