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Budget to yield good results: Mian Mansha

ECC mulls action against K-Electric

ECC mulls action against K-Electric Reviews possibility of takeover, suspension of additional power supplies The ECC approved a reduction in tax liabilities of two Chinese companies that were working on hydropower projects in Azad Jammu & Kashmir. PHOTO: PID ISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday reviewed an option to take “considerable action” against K-Electric, including a possibility to take over the company and suspending additional power supplies due to its failure to meet commitments. Headed by Federal Minister for Finance Shaukat Tarin, the ECC also approved payments of Rs90 billion to 35 independent power producers (IPPs) and gave Rs27.5 billion to the National Disaster Management Authority (NDMA) under prime minister’s Karachi package.

ECC delays approval of IPPs arrears

ECC delays approval of IPPs’ arrears Power Division sought financing to pay first instalment to power plants Power plants under the 2006 policy would get Rs4.2 billion in the first installment, subject to clearance by the ECC. PHOTO: PID ISLAMABAD: The government on Wednesday put off approval of a Rs89.9 billion supplementary budget to partially clear arrears of Independent Power Producers (IPPs) due to fear of National Accountability Bureau (NAB), which was delaying decision by a cabinet body. Like his two predecessors, Finance Minister Shaukat Tarin as Chairman of the Economic Coordination Committee (ECC) deferred a summary of the Power Division that sought Rs89.9 billion to pay the first installment to 20 IPPs.

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