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

According to press statement issued by the finance ministry, Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar presided over the ECC meeting, which among others was attended by Minister for Communication, Railways & Maritime Affairs, Shahid Ashraf Tarar; Minister for Privatization, Fawad Hasan Fawad; Minister for Power and Petroleum, Muhammad Ali; Advisor to PM on Finance, Dr. Waqar Masood; 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 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," the statement added.

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

Published in The Daily National Courier, December, 16 2023

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