The implementation of fuel cost adjustment (FCA) on energy bills had been postponed, not cancelled, on the instructions of the prime minister, Finance Minister Miftah Ismail has said.
On Wednesday, while speaking at a joint news conference with Khawaja Asif, Finance Minister Miftah Ismail said that electricity rates and inflation will start to fall within a month.
The finance minister said that the FCA had been postponed when asked to clarify if the premier’s decision about the withdrawal of FCA for homes consuming 200–300 units indicated suspension for later recovery or total waiver.
The government had intended to apply a Rs9.90 per unit FCA over a three-month period to users consuming up to 200 units per month.
Defense Minister Khawaja Muhammad Asif announced that Miftah Ismail would be elected as a senator before the end of his six-month term on October 16 in honour of his toil and dedication to saving the nation from default.
According to the legislation, after serving as a minister for six months, a person must run for election as a senator or MNA.
He made the comment that Ismail would be elected to fill the seat of one of the senators whose tenure is set to expire in roughly 18 months, or in March 2024.
He said that the trust shown in Ismail’s performance by the prime minister, the PML-N, and cabinet members were “well placed and well earned”.