Cabinet committee okays summary on validation of IPPs deal process

ISLAMABAD: The Cabinet Committee on Energy (CCoE) has approved a summary submitted by the Power Division regarding the process of Independent Power Producers (IPPs) agreements.

The Cabinet committee meeting was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar.

After detailed discussion, the committee approved the proposal that the agreements with the 2002 IPPs finalised by the Implementation Committee should be reviewed in the light of the National Accountability Bureau (NAB) advice in the Nishat Chunian Power Limited case.

It was also decided that the Implementation Committee will be revived and a representative of the Law Division will be included in its composition. The revived Implementation Committee will re-negotiate the master agreements with IPPs of 2002. The outcomes of the re-negotiations will be submitted to the Cabinet Committee on Energy.

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