ECC approves Gas Load Management Plan for winter

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet with Finance Minister Asad Umar in chair, on Tuesday approved Gas Load Management Plan for this winter.

The ECC decided for minimum gas load shedding during this winter and filling the gas deficit with Regasified Liquefied Natural Gas (RLNG), while taking decisions on its three-point agenda.

It was also decided that 150-200 mmcfd of RLNG will be injected in the system to overcome the shortage of gas.

The government is expecting gas shortfall from December to January, as the gap between supply and demand would surge due to less availability of local gas.

The meeting of the ECC also discussed and approved for getting Islamic Financing Facility to reduce the circular debt in the energy sector.

The ECC had recently directed the power and finance divisions to prepare a joint plan for raising Rs 300 bln Islamic financing by mortgaging assets of Discos. The amount will be used to clear a portion of circular debt of the energy sector which has now touched Rs700 bln in addition to Rs 600 bln parked in the books of Power Holding Private Limited (PHPL).

The meeting also discussed issuance of the Government of Pakistan Guarantee to National Power Parks Management Company.