ECC approved Rs100b guarantee for PSO, raised Rs1.72/unit for KE consumers

The Economic Coordination Committee (ECC) of the Cabinet, chaired by caretaker Finance Minister Dr Shamshad Akhtarhas approved a guarantee ceiling of Rs100 billion in favour of PSO, Rs1.72 per unit for KE consumers and release of Rs5 billion as bridge finance from the R&D Fund for the Digital Information Infrastructure project.

ECC decisions for K- Electric consumers

The ECC approved an additional charge of Rs1.72 per unit for KE consumers in the months from December 2023 to February 2024, aligning with the national uniform tariff to minimise government subsidies.

KE consumers will pay Rs1.2486 per unit additional charge for consumption from July to September 2023 and an additional 47 paise per unit for consumption from April to June 2023. In summing up these quarterly tariff adjustments (QTAs) Rs1.72 per unit will be charged together to consumers in the billing months from December 2023 to February 2024.

Digital Information Infrastructure Initiative (DIII)

The ECC approved a summary submitted by the Ministry of Information Technology and Telecommunication, and approved the release of Rs5 billion as bridge finance from the R&D Fund for the Digital Information Infrastructure project.

The summary stated that Pakistan’s ICT infrastructure is the key component of the country’s cyberspace and is prone to cyber-attacks and implementation of the digital information infrastructure initiative is crucial to mitigate the challenges of cyber-attacks by protecting national critical information infrastructure.

Rs100b guarantee approved for PSO

The ECC approved a Ministry of Energy summary for extending the GOP guarantee ceiling of Rs100bn in favour of PSO until December 2024, subject to the Finance Division’s approval of the terms and conditions for each financing facility upon renewal.

PSO faces an acute liquidity crisis as its receivables have piled up to Rs755 billion due to the circular debt in gas and power sectors. The company is often at risk of default due to non-payment.

Rs47.45 million approved for repairment of Sindh Rangers helicopters 

The summary submitted by the Ministry of Interior regarding technical supplementary grant amounting to Rs47.45 million within the sanctioned budget, for repair and maintenance, during the current fiscal year 2023-24, was considered and approved.