The Cabinet Committee of Restructuring on Power Sector meets for Power Sector Reforms

The Cabinet Committee of Restructuring on Power Sector meets for Power Sector Reforms

Islamabad: The 8th meeting of Cabinet Committee of Restructuring (CCOR) on power sector held here today under the Chairmanship of Minister for Finance and Economic Affairs, Dr. Abdul Hafeez Sheikh. This meeting was in continuation to pursue structural reforms in the power sector under the Power Sector Reforms Plan 2010 finalized by CCOR.

The committee discussed in detail the reconstitution of Board of Directors (BODs) of Power Sector Companies. After due deliberation, the CCOR finalized the names of BODs of GENCO Holding Company for 4 GENCOs and Sukkur Electric Power Company (SEPCO).

The CCOR also deliberated the establishment of Central Power Purchase Authority (CPPA) and its BODs. They decided that two representatives from Government sides, two from private sector, two from distribution companies and two from consumer side would be included in BODs. The committee also discussed the appointments of CEOs in DISCOs. They directed that the appointments of CEOs in DISCOs be finalized on urgent basis.

Earlier, the Federal Minister for Finance and Economic Affairs, Dr. Abdul Hafeez Sheikh had a meeting with European Commission Ambassador Mr. Lars Gunnar Wigemark in which he appreciated EU’s assistance for development and natural disasters in Pakistan, acknowledged EU’s support for enhanced market access to EU and stressed for package’s early operationalization as it is still under process at WTO.

He urged EU’s support for GSP for Pakistan and said that Pakistan wants more trade as it brings investment and create jobs. Minister updated the Ambassador on Economic Situation, Fiscal position and Relationship with IMF. European Commission Ambassador discussed the progress on the implementation of Multi-annual Indicative Programme II (MIP II) signed in June 2011.

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