The Power Division claimed to have saved consumers from a burden of around Rs170b due to removal of the ‘fairness and equity’ clause from an arbitration deal.
May 21, 2021
ISLAMABAD: Economic Coordination Committee (ECC) meeting headed by Finance Minister Shaukat Tarin on Friday approved an agreement with the K-Electric for clearance of its dues, ARY NEWS reported.
According to details, the meeting mulled over a 12 point agenda including recommendations for clearance of receivables and payables with K-Electric and decided to give go-ahead for signing an agreement with the sole power distributor in Karachi in this regard.
The meeting decided to defer a summary allowing approval of funds for the second phase of the Ehsaas Emergency Cash program for the next meeting.
“The agenda regarding exemption of turnover tax in special economic zones was also deferred,” the sources having knowledge of the ECC proceedings said.