January 14, 2021: A meeting of the Cabinet Committee on Energy (CCOE) was held under the Chairmanship of the Federal Minister for Planning, Development, and Special Initiatives Asad Umar here in Islamabad on Thursday.
Power Division presented the design of a Competitive Trading Bilateral Contract Market (CTBCM) for consideration and review of CCoE. The Division also apprised the committee of its implementation plan.
Power Division briefed the committee that in the first phase the consumers with a load of 1 MW or above will participate in the competitive market. These consumers represent around 16% of the total electricity sales. More consumers will be added to the market subsequently when the market stabilizes and matures. Committee gave approval of the design principles and implementation plan of the CTBCM.
Power Division also updated the committee on the implementation of the circular debt reduction plan. The committee reviewed the implementation status and directed the power ministry to conclude the open items and submit formal proposals to the ECC for decision.
The meeting was attended by Minister for Energy Omar Ayub Khan, Federal Minister for Information and Broadcasting Shibli Faraz, Interior Minister Sheikh Rashid Ahmed, Adviser to Prime Minister on Finance Abdul Hafeez Sheikh, SAPM on Petroleum Nadeem Babar, Abdul Razak Dawood Advisor to the Prime Minister on Commerce & Investment and official of various divisions.