The economic coordination committee (ECC) of the cabinet which met at the prime minister’s office under the chairmanship of Federal Minister for Finance Senator Ishaq Dar Tuesday decided to divert 85 MMCFD of gas presently being provided to the industrial sector with immediate effect, especially the export-oriented sector, to take full advantage of the GSP plus facility granted to Pakistan recently. The decision will check unemployment and maintain the present momentum of growth besides earning foreign exchange for the country, he added.
The ECC also decided that NEPRA be directed to determine the tariff of Hubco, (1,292 MW) Lalpir, (362 MW) Pakgen, (365 MW) Saba (134 MW) power plants in 45 days following due process and as per standard conditions and procedures. These power plants had entered into a Memorandum of Understanding with the government of Pakistan to convert their plants from furnace oil to coal within 24 months at the time when the government cleared the circular debt.
The meeting was informed that once the above IPP’s were converted on coal it would result in saving of over Rs 60 billion per annum. It was further informed that the boilers would have a provision to use indigenous Thar Coal as part of the government’s policy of reliance on indigenous resources.
The ECC also decided that the aircraft acquired by airlines on lease would be charged taxes on monthly basis instead of calculating on the total period of lease.
Those who attended the meeting included Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi, Minister of Food and National Security Sikandar Bosan, Minister for State for Commerce Khurram Dastigir, Minister of Water and Power Khawaja Asif, Chairman Board of Investment Zubair Umer, Chairman FBR Tariq Bajwa and senior officials of various ministries.