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ISLAMABAD: The Cabinet Committee on Energy (CCoE) approved a proposal of the Power Division for ratification of the memorandums of understanding (MoUs) signed with the Independent Power Producers (IPPs). The Power Division will continue to pursue agreements, based on these MoUs, through the committee constituted for this purpose.

The CCoE met with Federal Minister for Planning, Development, and Special Initiatives Asad Umar in the chair at the Planning Commission on Thursday. The CCoE had constituted an implementation committee to convert legally non-binding understandings with 47 independent power producers into legal agreements to secure an estimated amount of Rs836 billion in savings over the next 28 years.

After a formal revision in power purchase agreements, the federal government would save an average of Rs30 billion a year during this period. The Power Division had proposed setting up the committee, endorsed the MoUs signed with the IPPs, and chalked out the action plan.

The CCoE also discussed the summary of the Petroleum Division on natural gas load management during winter 2020-2021. The CCoE was informed that the demand and supply situation of natural gas in the country was normal and both domestic and export-oriented industrial sectors would face no disruption during the current winter.

While presenting the natural gas demand-supply situation for the winter, the committee was informed that domestic and export-oriented industrial sectors would face no disruption during the winter. The CCoE directed the ministry to ensure prioritising the residential and industrial demand during winter months, without any curtailment of load.

The Petroleum Division presented the mitigation measures for arranging additional gas for the season. Furthermore, an optimum utilisation plan for RLNG was also presented.

The CCoE also directed the Petroleum Division to present energy efficiency programme for domestic natural gas appliances. The CCoE also directed the Petroleum Division to check gas theft through illegal use of compressors in the residential and commercial sectors.

The meeting was attended by Minister for Energy Omar Ayub Khan, Federal Minister for Information and Broadcasting Shibli Faraz, Federal Minister for Railways Sheikh Rasheed Ahmad, SAPM on Petroleum Nadeem Babar, Abdul Razak Dawood, and Adviser to the Prime Minister on Commerce, Textile, Industries, and Investment, and officials from various divisions.

Copyright Business Recorder, 2020