ECC approves operation and maintenance of generation companies

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday discussed in detail and approved operation and maintenance of Generation Companies (GENCOs) through international bidding aimed at bringing improvement in the efficiency of four power generation companies in the country.The ECC, which met here with Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Shaikh in the chair, also approved LPG import and distribution policy which would help save Rs 81 billion per annum to the national exchequer.

The ECC further discussed tariff rationalization policy of the government and decided to establish four committees headed by Deputy Chairman of Planning Commission, comprising representatives of ministries of industry, textile and commerce, and Federal Board of Revenue (FBR) as members, for further rationalization of tariffs besides approving soft-loan financial guarantees Rs 500 million in addition to existing Rs 1.5 billion in order to help completion of textile cities in the country.APP