- Web Desk
- 21 Minutes ago
K-Electric set to sign crucial agreements with govt entities after ECC approval
- Web Desk
- Dec 15, 2023
WEB DESK: In a significant development, the Economic Coordination Committee (ECC) of the Cabinet, during its Friday session, granted approval to pivotal agreements between K-Electric (KE) and government entities in Pakistan.
The focal point of the ECC’s deliberations was the approval of the draft of several crucial agreements, including the Power Procurement Agency Agreement (PPAA), Inter-Connection Agreement (ICA), Tariff Differential Subsidy (TDS) Agreement, and Mediation Agreements, all set to be signed with K-Electric.
The Ministry of Energy (Power Division) provided a comprehensive briefing to the committee, addressing the observations made by ECC members and presenting additional data on the operations of the Central Power Purchasing Agency (CPPA-G).
Following an in-depth discussion and careful consideration, the ECC made the decision to endorse the Power Division’s proposal for the signing of the draft PPAA, ICA, TDS, and Mediation Agreements between K-Electric and government entities, as stated in the official statement.
Furthermore, the ECC directed the Power Division to bring forward the matter concerning KE’s generation enhancement plan to the Cabinet Committee on Energy (CCoE).
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Emphasis was laid on initiatives aimed at reducing the overall cost of electricity, coupled with a focus on resultant subsidies.
The high-profile meeting boasted the presence of key figures, including the Minister for Communication, Railways, and Maritime Affairs, Shahid Ashraf Tarar; the Minister for Privatisation, Fawad Hasan Fawad; the Minister for Power and Petroleum, Muhammad Ali; and the Advisor to the Prime Minister on Finance, Waqar Masood, along with Federal Secretaries and other senior government officials from relevant ministries.