ECC approves 4 proposals of Ministry of Water and Power

APP55-25 ISLAMABAD: July 25 - Finance Minister, Senator Mohammad Ishaq Dar chairing ECC meeting at the Prime Minister's Office. APP

ISLAMABAD, July 25 (APP): The Economic Coordination
Committee (ECC) Tuesday approved four proposals of
the Ministry of Water and Power for the issuance of new
sovereign guarantees of Ministry of Finance in respect of Fresh
Syndicated Term Finance Facilities for Power Holding (Private)
Limited in order to set off/adjust existing facilities.
The ECC met here under the chairmanship of Finance
Minister, Senator Mohammad Ishaq Dar, a statment issued by the
Ministry of Finance said.
It will provide government guarantee for the repayment of loan
as well as interest for the fresh facilities.
In all four cases, the principal instalment payments shall
be deferred for a further period of two years from the date of
execution of the fresh facilities.
The ECC also approved a proposal of the Ministry of
Water and Power, regarding an existing Term Finance Facility
for Power Holding (Private) Limited, to restructure the facility
by extending the tenor of the facility from seven years to ten years,
including extension in grace period from three years to six years.
The ECC, after considering and deliberating upon
another proposal of the Ministry of Water and Power,
approved the Standard Implementation Agreement (SIA) for
transmission line projects under Policy Framework for Private
Sector Transmission Line Projects, 2015.
As per the same proposal, the ECC also approved the TSA for HVDC
Transmission Project (*660 Kv Matiari-Lahore).