ISLAMABAD: The Power Division has notified 8-member committee headed by the Prime Minister's Advisor on Finance and Revenue, Dr Abdul Hafeez Shaikh to give effect to the MoUs signed with IPPs and their conversion into binding contractual agreements and devising a mechanism for settlement of outstanding dues of IPPs.
On September 29, 2020, the federal cabinet constituted the following committee to take further actions on implementations of negotiations outcomes with IPPs: (i) Adviser to the Prime Minister on Finance & Revenue - Chairman; (ii) Special Assistant to the Prime Minister on Power - Member; (iii) Minister for Energy - Member; (iv) Babar Yaqoob Fateh Muhammad, Chairman, Federal Land Commission of Pakistan - Member; (v) Secretary, Power Division, Member; (vi) Secretary, Finance Division - Member; (vii) Barrister Qasim Wadud - Member; and (viii) CEO, Central Power Purchasing Agency Guarantee Ltd - Member/Secretary.
According to the notified ToRs the committee will be responsible for undertaking all actions required to give effect to the MoUs and their conversion into binding contractual agreements, within the timeline agreed in the MoUs, including but not limited to coordination with all relevant ministries, institutions, authorities and other stakeholders.
For the IPPs which have not signed MoU as provided in the report, the committee will have power to make contractual arrangements on the same principles and lines as for the IPPs which have signed the MoUs. In case the matter is under litigation, the relevant MoU should be forwarded to relevant entity for its comments and feedback.
For those arbitration or dispute resolution decisions that are not implemented, recommend a way forward to close out such disputes, possibly including a previously agreed settlement that was not put into effect and for outstanding tax issues of the industry, attempt to reach closure on it.
The committee will take necessary action for revision of tariff through NEPRA pursuant to relevant terms of MoUs and monitor amendment of the Power Purchase Agreements (PPAs) and other relevant agreements pursuant to MoUs and revised tariff determination;.
The committee, in the performance of its duties, may: (i) co-opt experts or officers from any Government department, institution, agency, regulatory body, private sector, etc.; (ii) seek record and information from government and private sector organizations, regulatory bodies, etc, as deemed appropriate for its tasks; and (iii) establish sub-committees as it deems fit.
Copyright Business Recorder, 2020
Comments
Comments are closed for this article.