CCOE directs for implementing reform measures to minimize circular debt


ISLAMABAD, Oct 29 (APP):The Cabinet Committee on Energy (CCOE) Thursday directed the Power Division to workout detailed projections and mitigation strategies for circular debt build up as well as monitor the implementation progress of the reform measures to minimize the circular debt buildup in the power sector.

The meeting of the committee was held here under the Chairmanship of Minister for Planning, Development and Special Initiatives Asad Umar.

The meeting reviewed and approved the Circular Debt Reporting Format developed by Power Division in consultation with National Electric Power Regulatory Authority (NEPRA).

Competitive electricity market introduction plan was also presented to the CCoE and it was decided that Power Division will present the detailed analysis of the market model and institutional reforms plan along with the timelines to CCoE for its approval.

It was also agreed that an efficient competitive wholesale market, that will reduce the cost of power for the customers, will be considered for implementation in the shortest possible time.

The meeting was attended by Advisor to Prime Minister Imran Khan on Finance Abdul Hafeez Sheikh, Minister for Energy Omar Ayub Khan, Minister for Information and Broadcasting Shibli Faraz, Minister for Industries and Production Hammad Azhar, Minister for Maritime Affairs Ali Haider Zaidi, Special Assistant to Prime Minister (SAPM) on Petroleum Nadeem Babar, SAPM on Mineral Resources Shahzad Qasim and official of various divisions.