ECC Establishes Sub-Committee for Endorsement of Rs 90Bn
Islamabad: To continue discussions over the approval of Rs 89.86 billion as the first payment to the Independent Power Producers, the Economic Coordination Committee (ECC) of the Cabinet has established a subcommittee (IPPs).
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At a meeting of the ECC, it was decided to form a subcommittee. The federal minister of finance will preside over the subcommittee, which will also include ministers and secretaries from the ministries of energy, petroleum, and other relevant departments for further discussion.
Before the following ECC meeting, the subcommittee would provide a polished plan for review and approval.
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The Electricity Division provided a report of the first installment of the Rs 80.86 billion payment to the IPPs during the meeting.
Twelve IPPs under the 2002 Power Policy and twelve IPPs under the 2006 RE Policy are among the twenty-four IPPs for which NEPRA has published the updated tariff determination. Hence, the first installment, which was pending with the government of Pakistan, will become due within five working days of its notice.
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The ECC also approved the technical supplemental funds for the Ministry of Human Rights, the Law and Justice Division, and the Ministry of Housing and Works, totaling over Rs 41 million.
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