[ad_1]
Islamabad: To fulfill the IMF demand for round debt discount, the Caretaker Authorities is all set to launch the excellent dues of Rs 262.075 billion to the Authorities Owned Energy Crops (GPPs) in the course of the subsequent two quarters of the continuing Fiscal 12 months 2023-24.
A abstract submitted to Financial Coordination Committee (ECC) of the Cupboard by Energy Division for the settlement of payables to Authorities owned Energy Era Crops at par with IPPs and launch of Rs. 262.075 billion to those GPPs by Supplementary Grant, official paperwork out there with The Nation reveals.The ECC is scheduled to fulfill right here at the moment(Wednesday)
The present round debt is over Rs 2500 billion, and as per the dedication with IMF, the federal government will maintain it on the degree of Rs 2310 billion throughout 2023-24.
As per the paperwork, the Energy Division submitted a Abstract for ECC of the Cupboard, dated sixteenth March 2022, to hunt approval for clearance to previous liabilities amounting to Rs. 444.5 billion in respect of Authorities Owned Energy Crops (GPPs). A supplementary grant for launch of Rs 182.465 billion for onward fee to Pakistan Atomic Vitality Fee (PAEC), Water & Energy Growth Authority (WAPDA) and Nationwide Energy Parks Administration Firm (NPPMCL), as per fee mechanism already permitted for IPPs, was accordingly permitted and subsequently launched in FY22-23.
Funds had been made to the PAEC, WAPDA and NPPMCL, in accordance with ECC’s determination dated 30 March, 2022. For remaining funds of Rs.262.075 billion (as on 30.11.2020) to WAPDA and different GPPs, it was proposed that an train could also be carried out for money and non-cash settlement by Energy Division, Finance Division and Financial Affairs Division.
In CFY 2023-24, Rs. 262.075 billion have been allotted in opposition to Finance Division’s Demand No. 45, as lump sum provision for Energy Subsidy. Finance Division has been taken on board and it has been agreed that out of Rs. 262.075 billion, an quantity of Rs. 131.035 billion could also be launched in 2nd Quarter and remaining quantity of Rs. 131.040 billion could also be launched in 3 Quarter of FY 2023-24.
In view of the above, approval of Technical Supplementary Grant of Rs. 262.075 billion in Funding Head A014 beneath Energy Division’s Demand No. 33 and launch of the identical as funding in DISCOs, is required. The mentioned quantity is to be distributed as beneath; – For 2nd Quarter, fee of Rs. 131.035 billion to Authorities Owned Energy Crops GPPs (i.e. Rs. 26.782 billion to GENCO-II; Rs, 2.965 billion to GENCO-III, Rs. 83.638 billion to WAPDA; Rs.16.015 billion to Quaid-e-Azam Thermal Energy (RLNG) and Rs. 1.635 billion to Quaid-e-Azam Photo voltaic Energy.
For 3″ Quarter, fee of Rs. 131.040 billion to Authorities Owned Energy Crops GPPs (i.e. Rs. 26.787 billion to GENCO-LI; Rs. 2.965 billion to GENCO-ILI, Rs. 83.638 billion to WAPDA; Rs.16.015 billion to Quaid-e-Azam Thermal Energy (RLNG) and Rs. 1.635 billion to Quaid-e-Azam Photo voltaic Energy.
[ad_2]
Source link
