ISLAMABAD: A high level meeting chaired by Federal Minister for Finance, Senator Mohammad Ishaq Dar reviewed progress of Development Policy Credit-II (DPC-II) on energy sector.
The minister was informed that major reform effort had been undertaken to complete benchmarks of DPC-II and that all key prior actions had also been completed.
Finance Minister, Ishaq Dar inquired about the progress of establishment of CPPA (G). Chairman Nepra apprised the minister that consultations on market rules had been initiated and a public hearing would be held next week in this regard after which the consultative process would be completed. The Minister also asked about the progress on formulation of circular debt plan. He was informed that the plan had been chalked out and would be placed on the website of the Ministry of Water and Power shortly.
The Minister on this occasion said that successful completion of all prior actions of DPC-II would pave the way for disbursement of funds from the World Bank, JICA and ADB for energy sector. He appreciated the efforts of concerned officials of Ministry of Water and Power, Ministry of Finance and NEPRA for major reforms under DPC-II including establishment of CPPA(G) which had been pending for a long time.
The meeting was attended by Secretary Finance, Dr. Waqar Masood, Secretary Water and Power, Younus Dagha, Chairman Nepra Tariq Sadozai, Special Assistant to Finance Minister, Tariq Mahmood Pasha, Additional Secretary EAD, Omar Hamid, Joint Secretary Finance Division, Awais Manzur, Joint Secretary Finance Division, Qumar Sarwar Abbasi, Joint Secretary Water and Power, Zargham Ishaq Khan and Director General ERU, Dr. Khaqan Hassan Najeeb.
