Body formed to negotiate with LNG terminal companies

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STAFF REPORTER
ISLAMABAD Minister for Planning, Development and Special Initiatives Asad Umar chaired a meeting of the Cabinet Committee on Energy (CCOE) on Thursday. On a summary of the Petroleum Division regarding negotiations with LNG terminal companies, the CCOE set up a sub-committee to deliberate the matter and report back to CCOE within a week.The Petroleum Division also apprised the CCOE on the updated status of the dispute between Pakistan LNG Terminal Ltd. (PLTL) and Pakistan Gas Port Consortium Ltd. (PGPCL). Power Division briefed the committee on various measures which were under consideration to reduce electricity prices. The proposal included measures such as rationalizing the capacity charges of government owned power plants, exploring the possibility of extending the tenor of loans of various power plants and fuel cost optimization. The CCOE set up deadlines for various actions to be completed to achieve their objectives. CCOE was also apprised about the tax refund issues of the power sector and the need to streamline the process of payment of GST by the DISCOs. The CCOE decided to recommend to the Cabinet that the pending tax refunds may be paid forthwith. Members of the CCOE including Ministers for Railways Sheikh Rasheed, Minister for Energy Omar Ayub, Minister for Maritime Affairs Ali Zaidi, SAPM on Petroleum Nadeem Babar, and officials from the Power Division and NEPRA were also present.