ISLAMABAD: Federal Finance Minister Senator Ishaq Dar on Friday directed Secretary Water and Power to work on the Federal Adjuster account to reconcile with the provinces on the issue of recoveries as early as possible.
Dar made this direction while chairing a meeting of the committee formed by prime minister on energy resource rationalisation for power sector. The meeting was held at the Finance Ministry, and attended by Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi and senior officials of the Ministry of Finance and Petroleum and Natural Resources.
Water and Power Secretary Nargis Sethi in her presentation to the members of the committee apprised them of various issues which have been faced by the Ministry of Water and Power in collecting the amount receivable from various sectors.
She also informed the committee that so far the amount payable to different sectors has been reduced to Rs 244 billion which had earlier reached Rs 300 billion.
The finance minister appreciated the effort and hard work done by Secretary Water and power and asked her to redouble the efforts to improve the situation of recoveries and also lowering the amount payable to different entities.
The finance minister said that our government is on track in the case of paying subsidies to the power sector for the provision of cheap electricity to the common man but on the other hand we also need to enhance the efficiency of our system by reducing line losses and stopping pilferage from the system.
The finance minister also approved the plan to reduce losses in the sector. The implementation of the proposal will be reviewed shortly by the committee.
The finance minister also directed that feeder wise monitoring should be made in order to reduce line losses, improving recoveries and stopping of theft of the system. Rewards and incentives would be given to SDOs on improving performance in the said areas. As the first step, the work on monitoring performance of the feeders would be started from two Discos, each from Punjab and Sindh province.
It is worth mentioning that the next meeting of the committee was planned to be held in the next week in which the progress so far being made by the committee would be reviewed.
KARACHI: Karachi equity market sustained its momentum as benchmark 100-index surged by 884 points ...