PM Gilani directs payment of Rs25 billion for loadshedding reduction
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20/08/11  ISLAMABAD, Prime Minister Syed Yusuf Raza Gilani directed ministries of Finance and Water and Power to pay Rs 25 billion to PSO and Independent Power Producers (IPPs) by September 15.

The payment will enable IPPs to generate electricity to the maximum capacity, which will minimize loadshedding during Eid holidays.

The Prime Minister was chairing a meeting of High Power Committee comprising Minister for Finance Dr. Abdul Hafeez Sheikh, Minister for Water and Power Syed Naveed Qamar, Acting Governor State Bank Yaseen Anwar and top Officials of Ministry of Finance, Planning Division, Water and Power and Petroleum and Natural Resources.

The Prime Minister directed the committee to immediately resolve issue of circular debt which is major hurdle in electricity generation by IPPs to full capacity, resulting in unbearable burden of loadshedding for people and industry.

The Finance Minister, who is head of the committee, informed the Prime Minister that the committee will submit its recommendations to the cabinet next month.

He said implementation of recommendations will address issue of unscheduled loadshedding to a great extent.

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