Islamabad: Finance Minister Asad Umar chaired meeting of Economic Coordination Committee of the Cabinet (ECC) here on Tuesday.
ECC was given a presentation by Secretary Petroleum Division on Winter Gas Load Management Plan. ECC decided that there will be no gas load shedding this winter. ECC allowed SNGPL to utilize RLNG in the system for consumption by domestic and commercial consumers, to manage the load. The gas utilities will be allowed volumetric adjustment and financial impact on cost neutral basis in accordance with the ECC’s decision of 11th May 2018. The ECC also decided that the recent increase in gas prices will not be applicable for Roti Tandoors, and they will continue to pay their gas bills on the previously applicable rates. The decision has been taken in view of the concerns that the increase in gas prices was leading to increase in the prices of tandoori roti and naan.
ECC also approved government guarantee to National Power Parks Management Company (Pvt) Ltd (NPPMCL) to raise loan of Rs. 38.00 billion from financial institutions to meet remaining cost of its two power plants.
ECC gave approval in principal to Ministry of Energy (Power Division) to raise Islamic financing for the power sector through Power Holding (Pvt) Limited.