ECC exterminates Time-of-Use tariff scheme for Industrial consumers
Last updated on: 03 December,2020 07:14 pm
The approval is equally valid for K-Electric and other power distribution companies
ISLAMABAD (Dunya News) – The Economic Coordination Committee of the cabinet on Thursday approved removing distinction in electricity tariff between the current system of peak and off-peak hours to spur industrial activity amid COVID-19 pandemic.
Adviser to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet in Islamabad and accorded the approval to incentivize industrial units to operate round the clock and produce greater output during testing times.
Minister for Privatization Muhammad Mian Soomro, Minister for Economic Affairs Makhdoom Khusro Bakhtiar, Minister for Railways Sheikh Rashid Ahmed, Adviser to the PM on Commerce Abdul Razak Dawood, SAPM on Revenue Dr. Waqar Masood, SAPM on Power Tabish Gauhar and Adviser to the PM on Institutional Reforms and Austerity Ishrat Hussain participated in the meeting. Governor State Bank of Pakistan Dr. Reza Baqir joined the meeting through video link.
The Power Division presented the case for abolishment of Time-of-Use tariff scheme for Industrial consumers to spur industrial activity amid COVID-19 pandemic by removing the distinction between the current system of peak and off-peak hours as a part of Industrial support package.
The underlying rationale is to incentivize industrial units to operate round the clock and produce greater output during testing times.
The approval is equally valid for K-Electric and other power distribution companies to charge off-peak rates against the peak hours.
The abolishment of peak and off-peak tariff structure would be implemented from November this year till 30 April next year.