Business

ECC approves hike in power tariff

Economic Coordination Committee (ECC) on Wednesday has approved increase in power tariff.
A meeting of the ECC chaired by Finance Minister Asad Umar held in Islamabad today (Wednesday) approved the hike in power tariff.
The committee decided that electricity prices would not be raised for domestic consumers using 300 units or less every month. However, households that consume between 300 and 700 units per month will witness a rise in electricity prices of roughly 10 percent, or Rs1.18 per unit.
The committee also decided that it would provide relief in electricity prices for the agricultural sector, slashing rates by almost 48 percent from Rs10.5 to Rs5.5.