Sources said that the Nepra, Power Division and Finance Division also opposed the fairness and equity clause during a meeting. The ECC, chaired by Finance Minister Shaukat Tarin, decided not to include this clause in the agreement and approved the arbitration deal with K-Electric. Earlier, K-Electric had dropped a clause of reciprocity regarding treatment of late payment surcharge (LPS) following opposition from the government. However, the Power Division opposed it and K-Electric dropped the condition. The ministry of privatization made a detailed presentation before the ECC regarding grant of National Security Certificate (NSC) and outstanding payables and recoverable issues of K-Electric.

Source: The Express Tribune May 22, 2021 03:56 UTC