ECC okays signing of accords between K-Electric, govt entities

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet here on Friday decided to approve the proposal of Power Division for signing the draft PPAA, ICA, TDA and mediation agreements between K-Electric and government entities.

According to a press statement issued by the Finance Ministry, Caretaker Federal Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar, presided over the ECC meeting, which among others was attended by Caretaker Minister for Communication, Railways & Maritime Affairs Shahid Ashraf Tarar, Caretaker Minister for Privatization Fawad Hasan Fawad, Caretaker Minister for Power and Petroleum Muhammad Ali, Adviser to PM on Finance Dr Waqar Masood, the federal secretaries and other senior government officials of the relevant ministries.

On taking up the matter of approval of the draft PPAA, ICA, TDA & Mediation Agreements to be signed with K-Electric, the Power Division briefed the committee on the observations made by the members of ECC and provided the requisite additional data on the working of CPPA-G.

“After detailed discussion and deliberation, the ECC decided to approve the proposal of Power Division for the signing of draft PPAA, ICA, TDA & Mediation Agreements between K-Electric & GoP Entities,” the statement added.

The cabinet committee also directed the Power Division to present the matter related to KE’s generation enhancement plan to the Cabinet Committee on Energy, which should focus on reducing the cost of electricity as well as on the resultant subsidies.