ECC approves payment of Rs89 billion to 35 IPPs

ISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday gave the approval to pay the first installment of Rs89 billion to 35 Independent Power Producers (IPPs) out of a total of 47.

The ECC, which met in Islamabad on Wednesday with Finance Minister Shaukat Tarin in the chair, approved Rs89 billion for 35 IPPs, whereas payment to the remaining 12 IPPs may be withheld owing to NAB investigations.

The Economic Coordination Committee (ECC) of the cabinet also approved over Rs44 billion rupees for various projects, including 1.8 billion rupees for import of oxygen gas to meet the emergency requirement for the supply of oxygen to hospitals for treatment of COVID-19 patients.

The meeting approved the technical supplementary grant for the National Disaster Management Authority for procurement of oxygen gas and delivery mechanism to import of 6,000 MT of oxygen.

It approved 10 billion rupees for re-imbursement of telegraphic transfer charges to the banks on home remittances to encourage overseas Pakistanis to remit money through formal banking channels.

Besides, 115 million rupees were approved for the up-gradation of health care facilities at Cantonment General Hospital, Rawalpindi, 800 million rupees for the payment of the outstanding loan to the National Bank of Pakistan (Bahrain), eight million rupees to clear the pending liabilities of “Implementation Tribunal for Newspaper Employees”,  571.216 million rupees for the construction of Islamabad High Court Building, 350 million rupees for a new building of the Supreme Court Branch Registry Karachi, and 198.017 million rupees for running Isolation Hospital and Infections Treatment Center, Islamabad for treatment of COVID-19 patients.

The ECC accorded approval to 27.5 billion rupees for National Disaster Management Fund to complete NDMA’s component under Karachi Transformation Plan,

ECC approved exemption from duties on import of oxygen, oxygen gas cylinder and cryogenic tanks by oxygen concentrators, generators, manufacturing Plants for a period of 180 days to cope with the increased requirement of oxygen during the third wave of COVID-19 in the country.

It also approved subsidies for electricity consumers during phase-I in consultation with Ehsaas and Finance Division.