CCoE approves summary to ensure effective circular debt management

Mar 15, 2021: The Cabinet Committee on Energy (CCOE) approved on Monday the Circular Debt Management Plan (CDMP) 2021 to ensure effective management of circular debt.

The meeting of the CCOE was held under the Chairmanship of Minister for Planning, Development, and Special Initiatives Asad Umar here.

The Committee discussed the summary of the comprehensive Circular Debt Management Plan which covers the three-year period from the Fiscal Year 2020-21 to FY2022-23 and describes the mechanisms and initiatives to address the issue and suggests an action plan to control the flow of circular debt with a monitoring matrix.

The Committee also discussed the need for fast-tracking action for implementation of Renewable Energy Policy approved by the Government. The Committee directed the Ministry of Energy to expedite action for the auction of renewable energy projects to ensure greater use of renewable energy resources.

The meeting was attended by Minister for Energy Omar Ayub Khan, Advisor to Prime Minister on Finance Abdul Hafeez Sheikh, Special Assistant to Prime Minister on Petroleum Nadeem Babar, Special Assistant to PM on Power Revenue, and officials of various Ministries/Divisions.

APP