ECC okays electricity rate at $0.9/kWh for exporters

ECC okays electricity rate at $0.9/kWh for exporters

July 25, 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Monday approved the electricity rate at US cents 9 per kWh to five export-oriented sectors with effect from August 1, 2022, a statement issued by the Finance Division stated.

The aforesaid approval is subjected to the subsidy of Rs20 billion provided by the Finance Division, and a quarterly review of the subsidy. While Petroleum Division will provide a list of industrial units getting subsidized gas and electricity, within one month to the ECC for review.

The ECC also approved a supplementary grant of Rs750 million for the Ministry of Information and Broadcasting for 75 years of Independence Day celebrations.

In addition to it, the proposal of the Ministry of Interior for payment of compensation/goodwill package from its own budget was also approved in today’s meeting.

Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over the said meeting.

Meanwhile, the Federal Minister for Defense Mr. Khawaja Muhammad Asif, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Federal Minister for Power Mr. Khurram Dastgir Khan, Mr. Shahid Khaqan Abbasi – MNA, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Mr. Musadik Masood Malik, Rana Ihsan Afzal, Coordinator to PM on Commerce & Industry, Federal Secretaries and senior officers attended the meeting.

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