The meeting of the Economic Coordination Committee (ECC) of the Cabinet was held at the Prime Minister’s Office under the chairmanship of Federal Minister for Finance Senator Mohammad Ishaq Dar here on Tuesday.
The ECC decided that aircraft acquired by airlines on lease would be charged taxes on monthly basis instead of calculating on the total period of lease.
The ECC also decided that NEPRA be directed to determine the tariff of Hubco, (1,292 MW) Lalpir, (362 MW) Pakgen, (365 MW) Saba (134 MW) power plants in 45 days following due process and as per standard conditions and procedures.
These power plants had entered into a Memorandum of understanding with the Government of Pakistan to convert their plants from furnace oil to coal within 24 months at the time when the Government cleared the circular debt. The meeting was informed that once the above IPP’s are converted on coal it will result in saving of over Rs.60 billion per annum. It was further informed that the boilers would have a provision to use indigenous Thar Coal as part of government’s policy of reliance on indigenous resources.
The ECC also decided to divert 85 MMCFD of gas presently being provided to the power sector to the industry with immediate effect especially the export oriented sector to take full advantage of GSP plus facility granted to Pakistan recently. The decision will check unemployment, maintain the present momentum of growth besides earning foreign exchange for the country.
Those who attended the meeting included Federal Minister for Petroleum and Natural Resources Mr. Shahid Khaqan Abbasi, Minister of Food and National Security Mr. Sikandar Bosan, Mr. Khurram Dastigir Minister for State for Commerce, Khawaja Asif Minister of Water and Power, Chairman Board of Investment Mr. Zubair Umer, Chairman FBR Mr. Tariq Bajwa and Senior Officials of various Ministries.
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