CCOE for completing negotiation process with remaining IPPs.

ISLAMABAD -- The Cabinet Committee on Energy (CCOE) has directed to finalise agreements with the IPPs with whom the MoUs have already been signed within the ongoing month.

A meeting of the Cabinet Committee on Energy (CCOE) was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar. CCOE directed to complete the negotiation process with the remaining IPPs as soon as possible, an official source told The Nation here Thursday.

The sources said that the CCOE has asked to sign agreements with those IPPs, registered under the power policies of 1994, 2002 and 2006, during the ongoing month. The CCOE has asked for the finalization of agreements with those IPPs with whom MoUs have already been signed, the source added. The CCOE also directed to pursue the remaining IPPs for signing the MoUs.

On August, 13, 2020, MoUs were signed by the federal government with 47 IPPs power generation plants installed under power policies 1994, 2002 and 2006. The MoUs are signed for six months and the government is required to sign the agreements with the IPPs within the agreed period otherwise the MoU will lapse. Five months have already lapsed and only one is remaining to sign the formal agreements.

Meanwhile, a press statement issued here said that the Power Division presented the design of Competitive Trading Bilateral Contract Market (CTBCM) for consideration and...