ECC approves continuation of RCET for export oriented sectors during FY 2022-23

Islamabad: The Economic Coordination Committee has approved the continuation of Regionally Competitive Electricity Tariff (RCET) for export oriented sectors during current fiscal year. 

The approval was given at a meeting of the Committee in Islamabad, with Minister for Finance and Revenue Ishaq Dar in the chair. 

The meeting decided that electricity may be provided at 19.99 rupees per kWh all inclusive to five export oriented sectors, including textile, jute, leather, surgical and sports goods from first of this month to 30th June next year.

In view of the higher cost on import of wheat associated with two proposals, the ECC approved the proposal that both amendments to Trading Corporation Pakistan tender inspection may be dropped for the time being.

However, pre-shipment inspection should be ensured at the loading port from the top four inspection firms by TCP/Ministry of Commerce.

The TCP was also directed to issue fresh tenders to ensure import of allocated quantity of Wheat.