Islamabad: The Economic Coordination Committee (ECC) of the cabinet considered a summary of the Ministry of energy (Power Division) regarding the approval of the draft power purchase agreement PPAA, implementation cooperation agreement ICA, transmission and distribution agreement TDA and mediation agreements to be signed with the K-Electric.
The power division informed the ECC 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.
It was informed that the signing of the agreements would resolve long pending issues and regular payment will be streamlined by all the parties to avoid an addition in the circular debt.
The ECC chaired by chaired by caretaker federal minister for finance, revenue, and economic affairs Dr. Shamshad Akhtar discussed the draft agreements in detail and asked the power division to provide further information and detailed work to clarify the observations raised by the ECC.
It was decided that the matter will be discussed again in the next meeting once the additional information is provided.
Pakistan Bureau of Statistics, ministry of planning, development and special initiatives briefed the ECC on the inflation situation. The key price indicators were submitted for the information of ECC.
It was informed that inflationary pressures are continuing to persist; however, it declined from its peak of 38 percent in May 2023. ECC was informed that recent energy price adjustments have thwarted downward trajectory and inflations spiked in November 2023 to 29.2 percent while inflationary expectations are lowest in almost 12 months and exchange rate stability has played an important role in it.
ECC directed the relevant ministries to work with provinces to ensure availability of fertilizer to farmers at notified rates. It was also directed that strict actions be taken against the fertilizer dealers overcharging the farmers beyond the prescribed price.
The meeting was attended by the minister of planning, development and special initiatives Sami Saeed, the minister for privatization Fawad Hasan Fawad, minister for power and petroleum Mohammad Ali, Advisor to PM on finance Dr. Waqar Masood, federal secretaries, and other senior government officials of the relevant ministries.
