Govt Set To Increase Power Tariff From October

ISLAMABAD: The government on Tuesday appeared set to increase the electricity tariff it had put on hold in April as part of revised Circular Debt Managem­ent Plan (CDMP) and efforts to ensure continuous foreign inflows from lending agencies – particularly the IMF, the World Bank and the Asian Development Bank.

The tariff increase along with CDMP is expected to set into motion from Oct 1, but has to be discussed in detail by the Economic Coordination Comm­ittee (ECC) of the Cabinet within a few days. The tariff increases would be made through quarterly adjustments and surcharges in a phased manner.

To shape up the exact size of tariff increase along with other measures to contain and reduce circular debt, Finance Minister Shaukat Tarin, Energy Minister Hammad Azhar, SAPM on Power and Petroleum Tabish Gauhar and secretaries of finance and power besides other senior officials of the two divisions had a detailed discussions on Tuesday.