13/05/2022
Power Division Required To Submit The Summary For Supplementary Grant Of Rs.50 Billion
Islamabad: Power division was asked to submit the summary by the Cabinet division for the supplementary grant they received of Rs.50 billion for payment to CPEC projects. Reported a news source.
The former PM had two meetings on January 14th and 26th. During the meetings, he had discussed with the power division to process the release of Rs.100 billion to CPEC IPPs against receivables.
A follow-up meeting was held with the Finance Division on February 2nd. During the meeting, it was stated that the receivables by CPEC IPPs should be cleared. A case should also be placed before the ECC to release the remaining Rs.50 billion.
On March 17. 2022 it was noted that subsidy claims need to be released on an urgent basis, to keep the power sector running. For this an additional supplementary grant of Rs. 50 billion was required to be released.
Two proposals were submitted by the PD. The first one was to release the Rs.100 billion as a Supplementary grant of which 50 billion would be by way of SG under the head of TDS and the rest in the head investment in Discos. The second proposal wanted to allow CPPA-G management to negotiate with CPEC IPPs to accept the payment of Rs.50 billion in the form of Pakistan investment bonds and Sukuk Based on the terms and conditions available by the Ministry of Finance.
