ECC approves winter power package to spur demand

The Eco­nomic Coordination Com­m­i­ttee (ECC) on Tuesday formally approved subsidy-neutral discounted electricity rates for incremental consumption during the winter months (December to February) to stimulate power usage amid high tariffs and economic downturn. The initiative — which applies to residential, commercial and industrial consumers — is expected to increase consumption by up to 16 per cent while ensuring compliance with International Monetary Fund (IMF) requirements. The ECC meeting, cha­ired by Finance Minister Muhammad Aurangzeb, also approved the transfer of Rs3.14 billion from the erstwhile Emergency Relief Cell (ERC) to the National Disaster Manag­ement Authority (NDMA) to carry out its inland and overseas rescue and relief operations.