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GSP Plus status: ECC diverts gas from power sector to industry

The Economic Coordination Committee (ECC) of the cabinet decided on Tuesday to divert 85MMCFD of gas presently being provided to the power sector to the industry with immediate effect.

It was informed in a meeting of the ECC that gas would be provided especially to the export-oriented sector to take full advantage of the Generalised System of Preferences (GSP) plus facility granted to Pakistan recently. The decision will check unemployment, maintain the present momentum of growth besides earning foreign exchange for the country. The meeting of the ECC was held here under the chairmanship of Finance Minister Ishaq Dar.

The ECC also decided that aircraft acquired by airlines on lease would be charged taxes on monthly basis instead of they being calculated on the total period of lease. It was also decided that the National Electric Power Regulatory Authority (NEPRA) would be directed to determine the tariff of Hubco, (1,292 MW); Lalpir, (362 MW); Pakgen, (365 MW) and Saba (134 MW) power plants in 45 days following due process and as per standard conditions and procedures. The meeting was informed that once the above IPP’s are converted to coal it will save over Rs 60 billion per annum.

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