ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is set to take up today (Wednesday) at least four critical policy decisions including the payment of 40 per cent dues to the independent power producers (IPPs).
To be presided over by Finance Minister Shaukat Tarin, the meeting will also take up a summary of the Ministry of Industries and Production for uninterrupted supply of oxygen gas in the country for medical purposes, including through a plant at the Pakistan Steel Mills.
The other items on agenda include arrangement of additional power from the national grid to K-electric, setting fresh principles for power sector subsidies and granting tax exemptions to Chinese contractors of hydropower plants in Azad Kashmir.
The ECC also takes up approval for arrangement of additional power from the National Transmission & Dispatch Company (NTDC) to K-Electric. The additional power supply of about 1,450MW is based on decision of the Cabinet Committee on Energy.
The ECC would also consider setting new principles for subsidised power supply to consumers to ensure targeted subsidy under covenant with the lending agencies particularly the World Bank. Some of the key principles include that the high consumption consumers should continue paying similar rates in summer and winter irrespective of drop in consumption in winter and increase in summers.
The ECC would take up tax discounts on payments to Chinese (Offshore) supply contractors — China Three Gorges Corporation as main sponsor was developing 1,124 MW Kohala Hydropower Project (KHCL) located on river Jhelum in Azad Jammu & Kashmir (AJ&K) and China Gezhouba Group Company Limited as main sponsor developing 700.7 MW Azad Pattan Hydropower Project.
