AGL 37.48 Increased By ▲ 0.23 (0.62%)
AIRLINK 122.51 Decreased By ▼ -1.51 (-1.22%)
BOP 5.87 Increased By ▲ 0.25 (4.45%)
CNERGY 3.72 No Change ▼ 0.00 (0%)
DCL 8.43 Increased By ▲ 0.18 (2.18%)
DFML 40.70 Increased By ▲ 0.43 (1.07%)
DGKC 86.00 Increased By ▲ 0.26 (0.3%)
FCCL 33.11 Increased By ▲ 0.51 (1.56%)
FFBL 66.25 Decreased By ▼ -0.25 (-0.38%)
FFL 10.18 Increased By ▲ 0.02 (0.2%)
HUBC 105.25 Increased By ▲ 2.15 (2.09%)
HUMNL 13.35 Decreased By ▼ -0.05 (-0.37%)
KEL 4.30 Increased By ▲ 0.05 (1.18%)
KOSM 7.23 Increased By ▲ 0.05 (0.7%)
MLCF 38.50 Increased By ▲ 0.20 (0.52%)
NBP 63.90 Decreased By ▼ -1.11 (-1.71%)
OGDC 174.20 Increased By ▲ 0.40 (0.23%)
PAEL 25.13 Increased By ▲ 0.23 (0.92%)
PIBTL 5.76 Decreased By ▼ -0.04 (-0.69%)
PPL 142.00 Decreased By ▼ -0.70 (-0.49%)
PRL 23.08 Increased By ▲ 0.10 (0.44%)
PTC 15.40 Increased By ▲ 0.29 (1.92%)
SEARL 65.79 Increased By ▲ 0.44 (0.67%)
TELE 7.06 Increased By ▲ 0.06 (0.86%)
TOMCL 36.49 Decreased By ▼ -0.42 (-1.14%)
TPLP 7.30 Decreased By ▼ -0.04 (-0.54%)
TREET 14.30 Increased By ▲ 0.02 (0.14%)
TRG 50.87 Increased By ▲ 1.17 (2.35%)
UNITY 26.69 Increased By ▲ 0.54 (2.07%)
WTL 1.24 No Change ▼ 0.00 (0%)
BR100 9,635 Increased By 33.3 (0.35%)
BR30 28,770 Increased By 196.9 (0.69%)
KSE100 90,635 Increased By 348.3 (0.39%)
KSE30 28,344 Increased By 0.7 (0%)

ISLAMABAD: A meeting of the Cabinet Committee on Energy (CCoE) was informed on Friday that the circular debt of the power sector has reached Rs2,655 billion by May 2024.

The meeting of the CCoE presided over by Prime Minister Shehbaz Sharif also approved the establishment of a support unit for electricity distribution companies to increase their efficiency, prevent electricity theft, and for the timely collection of bills.

The tenure of DISCOs support unit will be for a period of two years after taking approval from the federal cabinet and it will start from Multan Electric Power Company (MEPCO).

Power sector woes: PM Shehbaz assigns tasks to ministries

The committee also decided to approve an incentive package for the recovery of unpaid and overdue electricity bills with rewards to law enforcement agencies and officials of DISCOs over their recovery.

The committee has also decided to approve an extension of six months in the Refinery Policy 2023 for the up-gradation of the existing refineries and directed the Ministry of Petroleum to prepare a comprehensive plan for the upgradation on a priority basis after taking into confidence the oil refineries established in the country.

The Cabinet Committee has approved the Standardized Security Package Document under the Power Policy 2015 for small water projects of the private sector.

The meeting was also submitted a report with regard to power circular debt for the period from July 2023 to May 2024.

The meeting was informed that power sector circular debt has reached Rs2,655 billion by May 2024.

The Cabinet Committee has approved the Standardized Security Package Document under the Power Policy 2015 for small water projects of the private sector.

The aim of this initiative is to promote private investment in the power sector and to deal with tariff and other issues.

The prime minister has taken the decision to resolve the complaints regarding the supply of electricity to the people of Gilgit-Baltistan and established a committee for the uninterrupted supply of electricity in Gilgit-Baltistan.

Copyright Business Recorder, 2024

Comments

Comments are closed.

Aamir Jul 06, 2024 08:35am
Stop supplying to non payers
thumb_up Recommended (0)