The Cabinet Committee on Energy (CCOE) approved the design principles and implementation plan of the Competitive Trading Bilateral Contract Market (CTBCM) on Thursday.
CCOE meeting was held under the Chairmanship of Federal Minister for Planning, Development and Special Initiatives, Asad Umar, in Islamabad.
Power Division presented the design of the Competitive Trading Bilateral Contract Market (CTBCM) for consideration and review of CCoE. The Division also apprised the committee of its implementation plan.
Power Division briefed the committee that in the first phase, the consumers with a load of 1 MW or above will participate in the competitive market. These consumers represent around 16 percent of the total electricity sales.
More consumers will be added to the market after the market stabilizes and matures.
Committee approved the design principles and implementation plan of the CTBCM.
Power Division also updated the committee on the implementation of the circular debt reduction plan. The committee reviewed the implementation status and directed the power ministry to conclude the open items and submit formal proposals to the ECC for decision.
The meeting was attended by Minister for Energy, Omar Ayub Khan, Federal Minister for Information and Broadcasting, Shibli Faraz, Interior Minister, Sheikh Rashid Ahmed, Adviser to Prime Minister on Finance, Abdul Hafeez Sheikh, SAPM on Petroleum, Nadeem Babar, Adviser to the Prime Minister on Commerce & Investment, Abdul Razak Dawood, and official of various divisions.