ISLAMABAD, Pakistan: The Economic Coordination Committee (ECC) of the Cabinet on Thursday accorded approval, in principle, to the proposal regarding the amendment in the respective SROs both for the XWDISCOS and K-Electric to charge the off-peak rates against the peak hours.
The abolishment of peak and off-peak tariff structure would be implemented from November 01, 2020 till April 30, 2021.
The ECC meeting was held in Islamabad with the Prime Minister’s Adviser Finance and Revenue Dr. Abdul Hafeez Shaikh in the Chair.
The Minister for Privatization Muhammad Mian Soomro, the Minister for Economic Affairs Makhdoom Khusro Bakhtiar, the Minister for Railways Sheikh Rashid Ahmed, the Adviser on Commerce Abdul Razak Dawood, the Prime Minister’s Special Assistant on Revenue Dr. Waqar Masood, the Special Assistant on Power Tabish Gauhar, and the Adviser on Institutional Reforms and Austerity Ishrat Hussain participated in the meeting.
The 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 the 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.