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Govt enforces monetisation policy, ceases complimentary electricity for officials

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12 months ago

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  • Officers will receive monetary compensation instead.
  • CCoE decided regarding monetisation policy on Oct 26.
  • Grade 21 officers will receive Rs55,536/month.

ISLAMABAD: The federal government has decided to discontinue the provision of complimentary electricity units to officers of Grade 17 and above in power-related companies as of December 1, The News reported on Wednesday.

These officers will now only receive monetary compensation through their salaries instead.

The decision was made by the Cabinet Committee on Energy (CCoE) on October 26, 2023, and was subsequently approved by the federal cabinet. The Energy Ministry (Power Division) officially communicated the implementation of this resolution on Tuesday.

The move, titled “Monetisation of Free Electricity Units Admissible to Employees of WAPDA and XWAPDA Companies (DISCOs), power generation companies (GENCOs), National Transmission and Despatch Company (NTDC), and Power Information Technology Company (PITC),” mandates all in-service employees in Grade-17 and above to pay their electricity bills issued by the respective DISCOs. The reference numbers for these bills are already available with the DISCOs.

Details of the revised compensation for Grade 17 to Grade 21 officers in WAPDA, DISCOs, NTDC, and PITC indicate that Grade 17 officers, formerly receiving 450 free units monthly, will now receive Rs15,858 per month. Grade 18 officers, instead of the previous 600 free units, will now receive Rs21,996 per month.

Compensation for Grade 19 officers, in place of 880 free units, will be Rs37,594/month. Grade 20 officers will now receive Rs46,992/month instead of the earlier 1,100 free units, while Grade 21 officers will be compensated Rs55,536/month instead of the previous 1,300 free units monthly.

For officers attached to generation companies (GENCOs) and power generation stations, Grade-17 officers will receive Rs24,570 per month instead of 650 free units.

Grade 18 officers will be given Rs26,460/month instead of 700 free units, and Grade 19 officers will receive Rs42,720/month instead of the earlier 1,000 free units. Grade 20 officers will be compensated Rs46,992/month instead of the previous 1,100 units, and Grade 21 officers will receive Rs55,536/month instead of the earlier 1,300 free units.

The initial proposal did not include WAPDA employees, but after discussions held at a meeting in the Prime Minister’s Office on August 27, 2023, and attended by the chairman WAPDA, they have now been incorporated into the revised arrangement.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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