ECC takes up power sector debt restructuring today.

ISLAMABAD -- The Economic Coordination CommiAtAtee (ECC) of the Cabinet will meet on Wednesday (today) to consider a heavy agenda including more than Rs1.1 trillion worth of restructuring of the power sector debt.

To be presided over by Finance Adviser Dr Abdul Hafeez Shaikh, the ECC is also expected to set an intervention price for cotton crop 2020-21, take stock of wheat procurement by the public sector and a couple of fresh funding allocations to the country's premier intelligence agency in the aftermath of recent visit of Prime Minister Imran Khan to its headquarters.

A total of 15 subjects are expected for discussion.

On top of the agenda are two special allocations for major upgradation of special telecom monitoring project and construction of an education school for the premier agency. This is followed by three technical supplementary grants of about Rs330 million for controller general of accounts, poverty alleviation and social division and assistance package to the family of a deceased government servant.

The meeting will also take up additional budget estimates for metropolitan corporation Islamabad for second half of the fiscal year, an incentive package for electric vehicle policy and extension in free period to port users and trade due to Covid-19.

The ECC will consider a request of the maritime affairs ministry for vacation of land for construction of Eastbay Expressway, Gwadar Port currently in possession of Pakistan Coast Guards.

The most crucial topics are three issues of the Power Division, including conversion of more than Rs800bn Power Holding Company's debt to public debt in 2-3 years under requirement of the International Monetary Fund Programme.

The meeting will set criteria for disbursement of Rs100bn and Rs200bn Syndicated Term Finance Facility (STFF) and Islamic Sukuk respectively in the light of...