ISLAMABAD: The Economic Coordination Committee (ECC) of the Federal Cabinet approved the signing of agreements with K-Electric and government entities.
The Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar presided over a meeting of the Economic Coordination Committee (ECC) of the Cabinet on Friday.
The meeting was attended by the Minister for Communication, Railways & Maritime Affairs Mr. Shahid Ashraf Tarar, the Minister for Privatization Mr. Fawad Hasan Fawad, Minister for Power & Petroleum Mr. Muhammad Ali, Advisor to PM on Finance Dr. Waqar Masood, Federal Secretaries, and other senior government officials of the relevant ministries.
ECC took up the matter of approval of the draft PPAA, ICA, TDA & Mediation Agreements to be signed with K-Electric. Finance Division stated this in a press statement issued on Friday after the ECC meeting. The Finance Division, nevertheless, did not mention any details of the nature of agreements being signed with the K-Electric and other entities.
Ministry of Energy (Power Division) briefed the Committee on the observations made by the members of the ECC and provided the requisite additional data on the working of CPPA-G.
After detailed discussion and deliberation, ECC decided to approve the proposal of Power Division for signing of the draft PPAA, ICA, TDA & Mediation Agreements between K-Electric & GoP Entities.
ECC also directed Power Division to present the matter related to KE’s generation enhancement plan to the CCOE, which should focus on reducing the cost of electricity as well as on the resultant subsidies.
