Prime Minister Gives Green Signal For Power Tariff Hike
Saturday, August 23, 2008 at 8:24 am Under Business News 8 views
ISLAMABAD :The Ministry of Water and Power has been given green signal by Prime Minister Yousuf Raza Gilani to increase electricity tariff. Minister for Water and Power Pervez Asharaf had apprised IPPs representatives on Thursday that he would be holding a meeting with the Prime Minister to resolve the issue of circular debt which could not be resolved until tariff was increased, official sources told Business Recorder.
According to an official statement, the Prime Minister chaired a meeting to review power sector. It was attended by Finance Minister Naveed Qamar, Minister for Water and Power Pervez Ashraf, Minister for Food & Agriculture Nazar Muhammad Gondal, Planning Commission Deputy Chairman, Secretary, Water and Power, Secretary, Finance, Nepra Chairman, Secretary, Minfal and Acting Secretary Petroleum.
The official statement said that the Prime Minister discussed load-shedding in the country and directed the concerned departments to make sure that there should be no load shedding at the time of Sehri and Iftari during Ramazan. However, insiders claimed that the main purpose of the meeting was to resolve the chronic issue of ‘circular debt’.
It was explained to the Prime Minister that the issue of circular debt could not be resolved until power tariff was revised as per Nepra’s determinations, which he agreed to, according to a source close to Minister for Water and Power. However, officially it was not confirmed.
The Prime Minister was informed that an investors’ conference on Thar coal would be organised in Hong Kong in September this year. He desired that the award of contracts of development for mining and power generation through international competitive bidding should be held in a transparent manner as soon as possible.
The Prime Minister also showed satisfaction over the recent developments on the Thar coal power project, the official statement said. The Prime Minister also said in the meeting that the issue of shortage of urea fertiliser should be addressed at the earliest for the Kharif season.
The Prime Minister was apprised about the shortage of urea fertiliser for Kharif season. It was decided in the meeting that the government will take the facility of $125 million from Saudi Support Fund on deferred payment basis to overcome the shortage of urea fertiliser.
In this regard Pakistan Government would contact the Saudi Government for immediate delivery of 0.175 million tons urea fertiliser in its initial phase. In the second phase the government will import 0.4 million tons urea fertiliser under this program. The meeting also decided that a delegation would go to Saudi Arabia to discuss the modalities between the two governments.
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