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River Gilgit: establishment of hydel projects approved by ECC - LahoreEstate - 06-16-2009 07:11 AM
RECORDER REPORT
ISLAMABAD (June 16 2009): The Economic Co-ordination Committee of the Cabinet (ECC) on Monday granted permission for the establishment of 16-20 hydel projects on River Gilgit as IPP, aimed at overcoming energy crisis in the country. The meeting of ECC was held here under the chairmanship of Shaukat Tarin, Adviser to Prime Minister on Finance at the Prime Minister Secretariat.
The ECC also considered the tabled items of making amendment in the 1995 Hydel Policy and decided that all actions thereto may be completed within a period of one month, says a statement issued by the Ministry of Finance here. The meeting also approved the summary of the Ministry of Petroleum and Natural Resources relating to fixation of CNG prices recommended by Ogra.
The ECC also accorded its approval to the proposal relating to financial support for the Bank of Punjab under Credit Guarantee Scheme for small banks. It desired that the proposal for improving conventional farming practices through provision of farm machinery to farmers/service providers may be considered afresh and brought back to the ECC after further diligence and observing the prescribed procedure.The summary of Ministry of Food and Agriculture relating to Pakistan Accelerating Economic Transformation Programme of Asian Development Bank was approved by the ECC.
The ECC desired that the proposal for hedging of oil prices needs to be finalised at the earliest. In this regard a full-fledged presentation was desired within two weeks' time. The ECC reviewed the key economic indicators and expressed satisfaction that the consumer price index has come down by 14.39 percent. The ECC also expressed satisfaction on the availability of food stock in the country, which is as follows: wheat - 3,842.6 (m/tones), sugar-2.445 (m/tones) and fertilizer-237,066 m/tons. It further considered the proposal for monthly and quarterly review of gas prices but did not find it feasible for adoption.
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