Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

Prime Minister chairs CCI meeting, Rs 177 billion project approves for flood assistance

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Prime Minister Muhammad Nawaz Sharif chaired CCI meeting here in Islamabad today which was also attended by Chief Ministers of Punjab, Sindh, Khyber Pukhtunkhwa and Balochistan.

Secretary, Inter-Provincial Coordination Division briefed the meeting regarding implementation status of decisions taken in the last CCI meeting held on 16th December, 2016.

While considering the inquiry into corruption charges of Kacchi Canal case, CCI unanimously decided that exemplary punishment be accorded to all the officials involved in the case. The Prime Minister stated that previously development projects were never completed in time and cost over-run was a matter of routine. He directed that all projects should henceforth be completed within approved costs and scheduled timelines with utmost transparency.

CCI directed all Provincial representatives to hold meeting with Federal Minister for Planning and Development to finalize matters pertaining to higher education and other similar bodies in post 18th Amendment scenario.

CCI approved the financing of National Flood Protection Plan Phase-IV at an overall cost of Rs. 177.661 billion on 50 : 50 share basis by the Federal Government and the Provincial Governments.

For the agenda item of ‘Import of LNG’, it was decided that the summary shall be circulated to all Provinces for soliciting comments and shall be presented in the next CCI meeting.

CCI expressed satisfaction over the 6th Population and Housing Census. The Ministry of Finance assured that the Census would be completed within the scheduled timeline with utmost transparency.

Ministry of Climate Change briefed the meeting that detailed consultations on National Forest Policy 2015 have been completed with all provinces. The Policy only provides for additional federal technical and expert advice as well as coordination with International forums with whom we are signatory to international protocols and agreements. Forests, itself being a Provincial subject, shall remain under control of Provincial Governments for purposes of implementation.

Minister for Water and Power informed the CCI that issues regarding settlement of Net Hydel Profit (NHP) between WAPDA and Government of Punjab have been settled wherein WAPDA has issued a promissory note in favour of Government of Punjab amounting to Rs. 38.12 billion while a tariff petition is under review for filing with NEPRA for recovery of NHP arrears.

The CCI approved amendments in the ‘Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997’.

Posted on: 2017-05-02T18:03:00+05:00