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The federal cabinet would be starting on Tuesday the process for appointment of regular/fulltime chief executive officers (CEOs) of power distribution companies (Discos) and approve selection of managing directors of two gas utilities. PPI/File
ISLAMABAD: After more than two years in office, the federal cabinet would be starting on Tuesday the process for appointment of regular/fulltime chief executive officers (CEOs) of power distribution companies (Discos) and approve selection of managing directors of two gas utilities.
This comes on the heels of over Rs2.3 trillion circular debt in the power sector as of Sept 30, 2020, and about Rs350bn circular debt in the gas utilities Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) up from Rs1.2tr and about Rs120bn in 2018, respectively.
A view of the Economic Coordination Committee (ECC) meeting on Nov 16. PID/File
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet, expected to meet on Wednesday, would be taking up a heavy agenda, including $200 million rupee-linked offshore bonds, revised markup rates on federal loans for provinces and public sector entities, the Rs739 billion Karachi Transformation Plan (KTP) and the first phase of the rationalisation plan for federal subsidies.
Informed sources told
Dawn that newly appointed Finance Minister Dr Hafeez Shaikh had been assured by the prime minister at a weekend meeting that the Revenue Division would be restored to his portfolio. As a result, the twice postponed ECC meeting was being fixed for Wednesday (Dec 16).