Meeting reviews progress on DPC-II

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ISLAMABAD. FEDERAL MINISTER FOR FINANCE, SENATOR MOHAMMAD ISHAQ DAR CHAIRING A MEETING AT THE FINANCE DIVISION TO REVIEW PROGRESS ON THE DPC II ON ENERGY.

ISLAMABAD, Aug 10:  A high level meeting chaired by Federal Minister for Finance, Senator Mohammad Ishaq Dar here Monday reviewed progress of Development Policy Credit-II (DPC-II) on energy sector.
The minister was informed that major reform effort had been undertaken to complete benchmarks of DPC-II and that all key prior actions had also been completed, said a statement.
Chairman Nepra apprised the Minister that consultations on market rules had been initiated and a public hearing would be held next week in this regard after which the consultative process would be completed.
The minister also asked about the progress on formulation of circular debt plan and was informed that the plan had been chalked out and would be placed on the website of the Ministry of Water and Power shortly.
Ishaq Dar said that successful completion of all prior actions of DPC-II would pave the way for disbursement of funds from the World Bank, JICA and ADB for energy sector.
He appreciated the efforts of concerned officials of Ministry of Water and Power, Ministry of Finance and NEPRA for major reforms under DPC-II including establishment of CPPA (G) which had been pending for a long time.
The meeting was attended by Secretary Finance, Dr. Waqar Masood, Secretary Water and Power, Younus Dagha and Chairman Nepra Tariq Sadozai.

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