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ISLAMABAD: Cabinet Committee on Energy (CCoE) approved a summary on restructuring of Pakistan Electric Power Company (Pepco) submitted by the Power Division.

The CCoE also approved another summary submitted by the Ministry of Maritime Affairs on the report of the Inter-Ministerial Committee on the Establishment of New Terminals.

The CCoE met with Federal Minister for Planning, Development, and Special Initiatives, Asad Umar, here in Islamabad on Friday.

The Power Division submitted the summary on restructuring of PEPCO.

The CCoE approved the summary after discussion in detail.

The major restructuring proposals approved include: change of the nomenclature from PEPCO to Power Planning and Monitoring Company (PPMC); Human Resources (HR) functions of the company delegated to the respective companies; the restricted company will continue to charge a fee to DISCOs, GENCOs, and NTDC; the restructure company will approach development finance institutions and multi-lateral agencies to solicit support for capacity building; composition of the Board of Directors of the company will be change and the restructuring plan will be implemented by 31st December 2021, and new HR will be hired for the company forthwith.

Population density increases to 231.99 in per unit area: PEPCO

The CCoE approved the summary submitted by the Ministry of Maritime Affairs on the report of the Inter-Ministerial Committee on the Establishment of New Terminals.

The committee discussed the report in detail and approved the allocation of pipeline capacity.

The minister directed to fast-track the work on setting up new LNG terminals.

The CCoE also discussed the summary submitted by the Power Division on policy direction for the operation of RLNG plants out of merit. The meeting instructed that for ironing out the operational problems arising due to the import of RLNG.

For this purpose, the Minister for Energy will have a meeting with the Oil and Gas Regulatory Authority (Ogra) and National Electric Power Regulatory Authority (Nepra).

The Minister for Energy would share the solutions and the proposed a way forward in the next meeting of the CCoE.

The CCoE reviewed the Circular Debt Report August 2021 submitted by the Power Division.

The committee appreciated the fact that the increase in circular debt during the last 12 months is only Rs57 billion, which shows a sharp reduction in comparison to Rs450 billion per year inherited from the previous government.

The meeting was attended by Minister for Finance, Minister for Energy, Minister for Maritime Affairs, Advisor to PM on Commerce and Industries, Special Assistant to the Prime Minister on CPEC Affairs, and representatives of regulatory authorities, and senior officials of ministries/divisions also participated in the meeting.

Copyright Business Recorder, 2021

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