Abdul Hafeez Shaikh summons ECC session today

ISLAMABAD: Finance Minister Abdul Hafeez Shaikh has summoned a session of the Economic Coordination Committee (ECC) to discuss a two-point agenda, citing sources, ARY News reported on Wednesday.

It is expected that the committee will approve payments of German company’s dues against Pakistan Steel Mills (PSM). Moreover, the committee is likely to approve the provision of communication support to Ehsaas programme.

In the previous meeting, the ECC headed by Finance Minister Abdul Hafeez Shaikh had given approval to agreements with the independent power producers (IPPs).

Read: Six more IPPs agree to govt’s terms for cheap electricity

During the ECC meeting, it had been decided in principle to approve agreements with the 46 IPPs and paying off their dues until 30 November 2020.

The government would be able to save Rs836 billion from the agreements with the IPPs after they get a final nod from the federal cabinet.

On February 02, the incumbent government of the Pakistan Tehreek-e-Insaf (PTI) reached another milestone, after talks with six more independent power producers (IPPs) for cheaper electricity in the country remained successful.

Besides this, the ECC meeting had also approved a supplementary grant of Rs350 million to the Federal Board of Revenue (FBR), which would be used for placing cameras at the sugar mills in order to monitor their activities.