ISLAMABAD: Pakistan Finance Minister Dr. Shahmshad Akhtar chaired an important meeting of the Economic Coordination Committee (ECC) of the cabinet on Friday.
During the meeting, the Economic Coordination Committee discussed the matter of approval of the draft PPAA, ICA, TDA & Mediation Agreements to be signed with K-Electric, according to a press release issued by the Finance Division.
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۔
Following a thorough discussion and careful consideration, the Economic Coordination Committee (ECC) has given approval to the Power Division’s proposal for the signing of a draft Power Purchase Agreement (PPAA), Implementation Cooperation Agreement (ICA), Transmission and Distribution Agreement (TDA), and Mediation Agreements between K-Electric and Government of Pakistan (GoP) entities, as stated in the official statement.
Additionally, the ECC has instructed the Power Division to present the matter concerning K-Electric’s generation enhancement plan to the Cabinet Committee on Energy (CCoE). The focus of this presentation should be on minimizing electricity costs and addressing resultant subsidies.
The meeting, which included the presence of Minister for Communication, Railways & Maritime Affairs Shahid Ashraf Tarar, Minister for Privatization Fawad Hasan Fawad, Minister for Power & Petroleum Muhammad Ali, Advisor to PM on Finance Waqar Masood, Federal Secretaries, and other senior government officials from relevant ministries, discussed these key decisions.
It is noteworthy that in a previous session, the ECC of the Cabinet had not approved the initial draft agreements (PPAA, ICA, and TDS). Consequently, the Power Division was directed to revise these agreements following extensive consultations with all stakeholders due to strong opposition from concerned parties.
