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Summary Hafeez says government will formulate a transparent payment mechanism to resolve IPPs issues.
Federal Finance Minister Dr Abdul Hafeez Shaikh said that government would formulate a transparent payment mechanism in consultation with Ministry of Water and Power for resolving the Independent Power Producers (IPPs) related issues to overcome energy crisis in the country.Talking to a 15-member IPPs delegation led by its Chairman M. Abdulahh Yousuf called on the minister. Deputy Chairman Planning Commission Dr Nadeem-ul-Haq and Secretary Finance Dr Waqar Masood Khan were also present on the occasion.Dr Hafeez said that Pakistan Electric Power Company (PEPCO) would replace Central Power Purchasing Authority (CPPA) in order to strengthen and regulate the power sector in a transparent manner in the country.He urged the IPPs representatives to make efforts for enhancing the generating capacity of their respective organization. He also urged them to bring down the line losses from 19 percent to 16 percent to save energy for the benefit of the country. He also assured them that issues related to SBP would also be taken care off in a transparent manner.Secretary Finance Dr.Waqar Masood Khan told the meeting that gap between billing and collection has coming to an end.He informed the General Sales Tax on uncollected bills imposed earlier would be withdrawn in order to enable the defaulters to deposit their due amount.Abudullah Yousuf on the occasion informed the meeting that out of over all Rs.90 billion working amount Rs.20 billion for power capacity was urgently needed.
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