ISLAMABAD, Jul 15 (APP):The Cabinet Committee on Energy approved on Thursday a summary submitted by the power division with respect to the process of Independent Power Producers (IPPs) agreements. The meeting of the CCOE was held under the Chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar. After detailed discussion, the Committee approved the proposal that the agreements with 2002 IPPs finalized by the implementation Committee be …
CCoE okays Power Division’s summary regarding validation of IPPs agreement process
ISLAMABAD, Jul 15 (APP):The Cabinet Committee on Energy approved on Thursday a summary submitted by the power division with respect to the process of Independent Power Producers (IPPs) agreements.
The meeting of the CCOE was held under the Chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar.
After detailed discussion, the Committee approved the proposal that the agreements with 2002 IPPs finalized by the implementation Committee be reviewed in the light of National Accountability (NAB) advice in the M/S Nishat Chunian Power Ltd case.
It was further decided that the Implementation Committee will be revived and a representative of Law Division will be included in its composition.
The revived Implementation Committee will re-negotiate the Master Agreements with IPPs of 2002. The outcomes of re-negotiations by the implementation committee will be submitted to the CCoE.
The meeting was attended by Minister for Energy, SAPM on Power, Petroleum & Revenue. Representatives of regulatory authorities and senior officials of Ministeries/Divisions also participated in the meeting.
