PM takes charge of ECC, CCoE

ISLAMABAD: Prime Minister Shehbaz Sharif has decided to keep two important decision-making committees – the Economic Coordination Committee (ECC) and the Cabinet Committee on Energy (CCoE) with himself.

Two separate notifications to this effect have been issued by the Cabinet Division and the first motivation stated that the prime minister has constituted the ECC of the Cabinet and he himself would be chairman of the ECC.

Ministers for Finance, Economic Affairs Division, Commerce, Power, Petroleum and Planning, Development and Special Initiatives would be members of the ECC.

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By special invitation, Deputy Chairman, Planning Commission, Governor, State Bank of Pakistan, Chairman, Securities Exchange Commission of Pakistan, Secretary, Power Division, Secretary, Commerce Division, Secretary, Communications Division, Secretary, Finance Division, Secretary, Industries and Production Division, Secretary, Economic Affairs Division, Secretary, Petroleum Division, Secretary, Planning, Development and Special Initiatives Division, Secretary, National Food Security and Research Division, Secretary, Privatization Division, Secretary, Railways Division, Secretary, Revenue Division/Chairman, FBR, Secretary, Poverty Alleviation and Social Safety Division, Secretary, Water Resources Division, Chairman, Board of Investment can attend the meeting.

Another notification issued by the Cabinet Division said that the prime minister in terms of rule 17(2) of Rules of Business, 1973, has been pleased to constitute the CCoE.

The prime minister will be the chairman of the CCoE while ministers for Economic Affairs, Finance, Petroleum, Planning, Development and Special Initiatives, Minister for Power would be its members.

Member by special invitation, secretary Finance Division, Secretary Power Division, Secretary Petroleum Division, Secretary Law and Justice Division, Chairman NEPRA, Chairman OGRA can attend the meeting.

The terms of reference (ToRs) of the committee are; (i) to ensure the smooth implementation of energy projects currently underway or in the pipeline, in particular projects falling under the umbrella of the China-Pakistan Economic Corridor, well within timelines stipulated for these projects; (ii) identify and remove bottlenecks in the expeditious implementation of these projects; (iii) identify the flaws and deficiencies of the existing legal and institutional framework governing the energy sector and formulate reform(iv) review the current energy policy and remove its weaknesses; (v) formulation of policies/plans on energy conservation and regular/periodical monitoring of such policies/plans; (vi) conduct inter-ministerial coordination whenever required, but at last once every fortnight; (vii) ensure adequate stocks of POL products in the country through policy/administrative measures; (viii) Develop efficient energy markets through deregulation within. limits allowed by regulators; and reduce theft losses in the energy sector and to pass on benefits to the consumer.

Copyright Business Recorder, 2024