ECC to review economic situation for new projects

Islamabad: Economic Coordination Committee (ECC) of the Cabinet would review the power shortages situation in the country and would take decision for early completion of new power projects including energy conservations steps.

Formal approval in the increase of wheat procurement price from Rs 510 to Rs 625 per 40kg would also be accorded along with allowing import of some 100,000 tonnes of urea for Kharif season. Wheat procurement arrangements in the province of Punjab will be reviewed so that a target of procurement of 5 to 7 million tonnes in achieved.

It is also expected that some decisions will also be taken to make sure availability of essential items on affordable prices to the general public through utility stores.

This would be first meeting in Pakistan Peoples Party led coalition government to be chaired by Prime Minister Yousaf Raza Gillani, where ministries would present their performance reports during first three quarters, July-March period, of the current fiscal year. Official sources informed that Ministry of Water and Power would present realistic picture of power generation from all sources and total demand in all the sectors with a power shortfall in the country.

Problems faced in completion of new power projects will be highlighted and the Water and Power Ministry and Private Power Infrastructure Board would seek ECC’s help and guidance for resolution of the issues mainly relating to the National Electric Power Regulatory Authority (NEPRA) and respective provincial governments.

Performance reports in the area of international trade, federal tax collection, foreign exchange reserves, measures to control inflation, remittances would presented in the ECC meeting.