ISLAMABAD: The Senate Standing Committee on Finance on Thursday decried the resurgence of round debt regardless of a rise in electrical energy tariffs and declining oil costs on the worldwide markets.
The committee, chaired by Saleem Mandviwalla, famous that the round debt was round Rs480 billion in 5 years which was cleared in June 2013. Nevertheless, since then Rs321bn has collected on this head. The committee questioned Ministry of Water and Energy’s Further Secretaries Zargham Eshaq Khan and Omar Rasool if the federal government was giving any subsidy on electrical energy. The 2 officers replied in damaging.
PTI’s Mohsin Aziz identified that crude oil was at round $one hundred twenty per barrel in 2013 and electrical energy charges have been Rs7 per unit. “Oil is round $forty per barrel now and the facility price is Rs12 per unit. What’s the cause for the resurgence of round debt?” Senator Aziz questioned.
The committee was knowledgeable by the officers that an MoU has been signed between the federal government and Unbiased Energy Producers (IPPs) to transform their gasoline base from oil to coal.
Three IPPs have been granted tariff by Nepra and are establishing infrastructure on this regard, the officers knowledgeable. Nevertheless, the Senate physique termed the MoU one sided to favour the IPPs solely.
The committee determined to carry a separate assembly over the topic and directed the ministry of water and energy to deliver manufacturing knowledge of Musharraf period, PPP authorities and the present figures.
Earlier, the committee mentioned numerous overseas funded tasks in agriculture and livestock sectors.
Conflicting figures have been acquired from related officers of Sindh and Balochistan provinces in addition to Financial Affair Division (EAD) officers.
Balochistan officers stated they acquired Rs1.86 million from the division whereas the EAD officers stated your complete Rs52m Japanese grant has been transferred to the province. The committee was knowledgeable that one other Japanese grant of Rs45m for agriculture venture in Sindh was mendacity with EAD because the Sindh authorities was not arising with any venture regardless of repeated reminders. The committee directed each the provinces to carry separate conferences with the EAD.
Revealed in Daybreak, September 2nd, 2016
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