ISLAMABAD: The Economic Coordination Committee (ECC) has decided against increasing the price of electricity, Information Minister Fawad Chaudhry said Tuesday.
Fawad Chaudhry was addressing a press conference alongside Federal Minister for Planning, Development and Reforms Khusro Bakhtiar in Islamabad.
Bakhtiar said the previous Pakistan Muslim League-Nawaz (PML-N) levied indirect taxes on consumption that burdened the public. He added that the former government secured $32 billion when global oil prices fell.
“Where did those 32 billion dollars go? The public didn’t get the benefit and the PML-N government did not even take public into confidence over its so-called development projects,” he said.
The minister said Pakistan’s external debt had soared to a staggering Rs28,000 billion and the previous government downplayed it by showcasing an artificial GDP growth.
“Our circular debt has risen to Rs1,200 billion. There is less public-private sector investment due to lack of confidence,” he added.
The National Electric Power Regulatory Authority (Nepra) last week had proposed an increase of Rs1.16 per unit in price of electricity that was approved under fuel adjustment for August.
The Central Power Purchasing Agency (CPPA) had initially requested an increase of Rs1.50 in electricity rates.
CPPA reported that in August, 31.95 percent electricity was generated from water, 11.73percent furnace oil, 14.55 percent gas while 22.74 percent from Liquefied Natural Gas (LNG).
The production price per unit of electricity remained at Rs5.55 that was provided to the divisional units for Rs6.24. NNI