ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) has directed the Water and Power Ministry to complete the ongoing development and reform initiatives on time.
The meeting met under the chairmanship of Finance Minister Ishaq Dar on Monday.
The water and power secretary a short presentation on performance of power sector for 2014-16. He said all possible efforts had been made for development and strengthening of the power sector.
With concerted efforts there has been considerable decrease in load shedding in country. In Urban areas load shedding had decreased from almost 12-14 hours in 2013 to four hours in December 16.
The meeting accorded approval for issuance of sovereign guarantee in respect of syndicated term finance facility for the power sector.
Another proposal by the Ministry of Water and Power on Withholding Tax on dividend for HVDC Transmission Line from Matiari to Lahore, was deferred for inter-ministerial discussion and re-submission to the ECC thereafter.
The meeting had a detailed discussion on the proposal by the Ministry of Industries and Production for release of Rs 1035.202 million to Utility Stores Corporation (USC) on account of maintaining subsidized prices of 11 essential items.
Dar with consensus of the House deferred the matter of release of funds and directed for a special audit of the sale-purchase prices of certain
items, within 15 days to determine the need for release of the amount of subsidy.
