ECC greenlights monthly release of Rs4bn for IPPs

MG News | June 21, 2023 at 05:00 PM GMT+05:00

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June 21, 2023 (MLN): The Economic Coordination Committee (ECC) of the cabinet has approved Rs4 billion in funding to be released on a monthly basis to Independent Power Producers (IPPs).

The ECC after discussion authorized this to utilize a one-time full amount out of assignment account in relaxation of limit of using Rs4bn per month during June 2023 for the next five months and to ensure that there will be no more payment liability to IPPs for the period July 2023 to Nov 2023.

The ECC also approved funding for Karachi Electric (KE) company, ensuring a steady power supply for the nation, for a total amount of Rs76bn.

The meeting was chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar.

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