Islamabad: Wednesday, January 11, Electricity surcharges have been raised by 10 paisa per unit. The federal government announced the increase for a period of one and a half years on Wednesday to over come the cost of Rs.18 billion more in Neelum-Jehlum hydroelectric power project.
The cost of the project already raised to Rs.416 billion by the present government, which is now expected to reach Rs.500 billion.
Ishaq Dar, Finance Minister chaired the meeting of the Economic Coordination Committee (ECC) of the cabinet and approved the proposal of the Ministry of Water and Power about the extension of the period of Neelum-Jehlum surcharges till June 2018.
To enable WAPDA for the payment of net hydel profit to the Punjab Government, ECC has also approved Rs.38 billion cost of sovereign guarantees.
The project cost has been increased many times; from Rs.84.55 Billion to Rs.274.8 billion and then jumped up R.414 billion by the present government. At present it is expected the increase in cost of the Neelum-Jehlum hydroelectric project will take it to Rs.500 billion.