ECC issues directive to power division for more details on K-Electric agreements

MG News | December 13, 2023 at 10:05 PM GMT+05:00

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December 13, 2023 (MLN): The Economic Coordination Committee (ECC) on Wednesday directed the Power Division to furnish additional information regarding the draft agreements intended to be signed with K-Electric, with the aim of preventing an increase in circular debt, according to a press release issued today.

The committee during its meeting today considered the summary of Ministry of Energy (Power Division) regarding approval of the draft Power Purchase Agreement (PPAA), Implementation Cooperation Agreement (ICA), Transmission and Distribution Arrangement (TDA) and Mediation Agreements to be signed with the K-Electric.

The Power Division informed the Committee that the Agreements had been prepared on the recommendations of the Task Force constituted by the Prime Minister of Pakistan for resolving issues between KE & various government entities.

The signing of the agreements would resolve long pending issues and regular payment will be streamlined by all the parties.

Following a detailed discussion on the draft agreements, the ECC requested the Power Division to furnish comprehensive details to address the observations raised during the discussion.

The matter will be discussed again in the next meeting once the additional information is provided.

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