Circular debt management plan gets CCoE’s nod

ISLAMABAD: The Cabinet Committee on Energy (CCoE) has approved the Circular Debt Management Plan (CDMP) 2021 to ensure effective management of the rising debt.

Planning, Development and Special Initiatives Minister Asad Umar chaired the CCOE meeting on Monday.

The meeting discussed the summary of the comprehensive CDMP, which covers the three-year period from the fiscal year 2020-21 to FY2022-23, describes mechanisms and initiatives to address the issue, and suggests an action plan to control the flow of circular debt with a monitoring matrix.

The committee also discussed the need for fast-tracking action for implementation of the Renewable Energy Policy approved by the government. It directed the Ministry of Energy to expedite action for the auction of renewable energy projects to ensure greater use of renewable energy resources.

The meeting was attended by Minister for Energy Omar Ayub Khan, Adviser to Prime Minister on Finance Abdul Hafeez Shaikh and Special Assistant to Prime Minister on Petroleum Nadeem Babar.

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