ECC to consider over Rs262bn payment to power plants via TSG

December 19, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, in its meeting which is scheduled to be held tomorrow at 1300 hours, will review the settlement of payables to Government Owned Power Plants (GPPs) at par with IPPs with the release of Rs262.075 billion to public sector power plants through Technical Supplementary Grant (TSG).

The committee will also consider releasing the amount of Rs57bn advance subsidy in respect of K-Electric arrears.

Phase out of the Export Finance Scheme of SBP under IMF Standby Arrangement will also be discussed.

The agenda of the meeting also includes the transfer of the National Energy Efficiency and Conservation Authority (NEECA) from the Science & Technology Division to the Power Division. 

Provision of additional funds of Rs250 million during FY24 will also be considered.

The committee will also decide the profitable support price of Wheat Crop 2023-24. 

Furthermore, notification of minimum indicative prices of Tobacco Crop (2024) and revision of cess rates on Tobacco for the Year 2024-25 will be reviewed.

In addition, the committee might approve the TAPI Project as a qualified investment and investment incentives package under the Foreign Investment (Promotion and Protection) Act, 2022 (FIPPA)

The meeting will also review the report on ECC's decision of PSM's liabilities towards the government.

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