ECC has the approval to pay the first installment of Rs 89 billion to 35 Independent Power Producers (IPPs) out of a total of 47.
The meeting of the Economic Coordination Committee was held on Wednesday under the Chairmanship of the Federal Minister for Finance and Revenue, Shaukat Tarin where the committee gave the approval of the payment of Rs 89 billion to 35 Independent Power Producers (IPPs).
There are a total of 47 IPPs which are to be paid but the remaining 12 IPPs’ payment was withheld as their cases are laying with the NAB.
The power Division presented the case about tax on payments to the offshore supply contractors of IPPs, situated in AJ&K. The case was approved.
The Secretary Power Division told the forum the recommendations of the sub-committee, constituted during last weeks’ meeting of ECC in addition to the detailed briefing about a draft summary for providing additional power from NTDC to K-Electric and the issue of non-payment for the additional power supply by K-Electric to the Power Division.
The ECC constituted a sub-committee, comprising Federal Minister for Planning, Federal Minister for Energy, Federal Minister for Maritime Affairs, and SAPM on the Power, headed by the Finance Minister to negotiate with K-Electric for settlement of payment issue.
The forum also approved a summary, presented by the Ministry of Industries and Production about the exemption from duties and taxes for import of oxygen gas, oxygen gas cylinder, and cryogenic tanks by the oxygen concentrators, generators, manufacturing plants under respective Harmonised System (HS) codes for 180 days to meet the increased requirement of oxygen due to the present situation of Covid-19.
Another summary about retargeting of power subsidies for electricity consumers during phase-1 in consultation with Ehsaas and the Finance Division was presented by the Power Division. The Forum approved the case in principle and directed to work out the modalities for the future.
Economic Coordination Committee also approved the Technical Supplementary Grants of the Ministry of Parliamentary Affairs, Geological Survey of Pakistan, Ministry of Federal Education and Technical Training, National for Human development, and Cabinet Secretariat.