ANL 16.15 Increased By ▲ 0.66 (4.26%)
ASC 13.92 Decreased By ▼ -0.08 (-0.57%)
ASL 18.77 Decreased By ▼ -1.23 (-6.15%)
BOP 8.75 Increased By ▲ 0.05 (0.57%)
BYCO 7.54 Increased By ▲ 0.24 (3.29%)
FCCL 17.79 Increased By ▲ 0.81 (4.77%)
FFBL 23.08 Increased By ▲ 0.28 (1.23%)
FFL 15.25 Increased By ▲ 0.35 (2.35%)
FNEL 7.25 Increased By ▲ 0.19 (2.69%)
GGGL 16.90 Increased By ▲ 0.60 (3.68%)
GGL 29.20 Increased By ▲ 0.80 (2.82%)
HUMNL 6.48 Increased By ▲ 0.34 (5.54%)
JSCL 20.10 Decreased By ▼ -0.30 (-1.47%)
KAPCO 28.15 Decreased By ▼ -0.35 (-1.23%)
KEL 3.43 Increased By ▲ 0.02 (0.59%)
MDTL 2.24 Increased By ▲ 0.09 (4.19%)
MLCF 35.12 Increased By ▲ 2.64 (8.13%)
NETSOL 108.95 Increased By ▲ 7.50 (7.39%)
PACE 4.35 Increased By ▲ 0.15 (3.57%)
PAEL 28.00 Increased By ▲ 1.49 (5.62%)
PIBTL 8.42 Increased By ▲ 0.02 (0.24%)
POWER 7.00 Increased By ▲ 0.29 (4.32%)
PRL 16.65 Increased By ▲ 0.27 (1.65%)
PTC 9.17 Increased By ▲ 0.06 (0.66%)
SILK 1.48 Increased By ▲ 0.06 (4.23%)
SNGP 41.02 Decreased By ▼ -1.48 (-3.48%)
TELE 16.73 Increased By ▲ 0.28 (1.7%)
TRG 134.10 Increased By ▲ 5.75 (4.48%)
UNITY 29.85 Increased By ▲ 1.16 (4.04%)
WTL 2.54 Increased By ▲ 0.26 (11.4%)
BR100 4,716 Increased By ▲ 108.86 (2.36%)
BR30 20,840 Increased By ▲ 565.69 (2.79%)
KSE100 45,499 Increased By ▲ 870.01 (1.95%)
KSE30 17,825 Increased By ▲ 368.99 (2.11%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,312
1224hr
Pakistan Cases
1,266,204
55424hr
1.32% positivity
Sindh
466,432
Punjab
438,271
Balochistan
33,138
Islamabad
106,543
KPK
177,038
Pakistan

ECC approves payment mechanism to clear outstanding dues of IPPs

  • "The Implementation Committee has agreed the payment mechanism with the 46 IPPs to clear the outstanding dues as on 30th November, 2020" the statement added.
Updated 09 Feb 2021

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet Monday approved the report of the Implementation Committee regarding payment mechanism to clear the outstanding dues of Independent Power Producers (IPPs).

However, the committee, the meeting of which was chaired by Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh, also directed for presenting same before Cabinet for final approval, said a press statement issued by the Finance Ministry.

Earlier, Secretary, Ministry of Energy briefed the ECC about the detailed report by the Implementation Committee regarding conversion of Memorandum of Understandings (MOUs) into Agreements with IPPs to devise a payment mechanism for clearing outstanding payables.

"The Implementation Committee has agreed the payment mechanism with the 46 IPPs to clear the outstanding dues as on 30th November, 2020" the statement added.

The ECC commended the efforts made by the Implementation Committee and acknowledged the input of all concerned including Federal Minister for Energy, Federal Minister for Planning, SAPM on Power, Finance Division, Chairman Federal Land Commission, SAPM on Revenue, Governor SBP etc in working out a viable payment mechanism with the IPPs which will eventually save approximately Rs836 billion for the government over the average life of the projects.

Meanwhile, The Federal Board of Revenue presented a summary regarding procurement of video Analytics Surveillance system (VAS) for proper monitoring of the production and sale of sugar in compliance with the directive of the Prime Minister.

The ECC approved an allocation of Rs 350 million as a Technical Supplementary Grant for installation of the most optimal VAS solution at the sugar mills’ premises during the current crushing season as requested by the FBR.

Among others, Federal Minister for Planning, Development and Special Initiatives Asad Umar, Federal Minister for Energy Omar Ayub Khan, Adviser to the PM on Institutional Reforms and Austerity Dr. Ishrat Hussain, SAPM on Revenue Dr. Waqar Masood, SAPM on Power Tabish Gauhar, Governor State Bank Reza Baqir, Chairman Federal Board of Revenue and Chairman Board of Investment participated in the meeting.

Comments

Comments are closed.