ISLAMABAD - Joint effort of the PPP and PML-N to face economic challenges and resolve conflicting political issues registered progress on Thursday as the two parties committees set directions and timeline for key points ranging from energy outages to accountability bill. Major opposition party PML-N asserted after the Thursdays meeting that the deadline of 45-days was intact and the two committees were interacting on the ten points Mian Nawaz Sharif had given early this month. At the same time the government side insisted at resource mobilisation through reform general sales tax and other avenues as well. The Prime Minister himself has endorsed the 45-day deadline, mentioned Senator Ishaq Dar leader of the PML-Ns committee. The media misread the finance ministers statement after previous meeting that timeline was irreverent. But he rushed to clarify that it never meant that the committees would keep on sitting for all these days to come up with final solutions on the 45th day. The issues would be tackled in an ongoing manner as per the priority and urgency. At the end of the second meeting of the two parties committees they agreed to take concrete decisions on implementation of the 10-point agenda in the next meeting on January 26. Finance Minister Dr Hafeez Shaikh briefing the media said that both parties had agreed upon certain timelines to finalise recommendations for reaching at consensus decisions besides appointing a couple of committees. For instance on recovery of loans written off on political favouritism Governor State Bank of Pakistan would brief the committees on January 22 and would suggest means for recovery of such loans. Key agreement between the two major parties of the country on Thursday was on review of petroleum prices formula towards transparency and public interest. For this the Finance Minister said a committee including two members from PML-N Sardar Mehtab Ahmed Khan and Engineer Khurram Dastgir and Petroleum Minister Syed Naveed Qamar would review the POL pricing formula and would recommend measures to the meeting on January 26. Similarly, he said that a committee headed by the minister for water and power would come up in January 26 meeting with a way out of the difficulties faced by the masses due to the gas and power loadshedding. Another significant agreement between the parties ruling in centre and Punjab was establishing mechanism at the federal and provincial level to keep a vigil on prices. A meeting on January 24 would evolve a mechanism for effective price control. According to the minister, the Cabinet Committee on Restructuring of PSEs on Thursday has finalised recommendations for the reconstitution of board of directors of eight power distribution companies, NTDC, Pakistan Steel Mills. The government side would present these in the January 26 meeting after the Prime Ministers formal approval. To a question on Reform General Sales Tax (RGST) Shaikh said, Resource mobilisation through different options is the key issue that has also been included in talks as without resource mobilisation country cannot overcome present difficulties. On the political side the two committees have agreed to make headway on appointment of chief election commissioner, and accountability bill. According to Senator Dar, the meeting underlined the need for transparent mechanism for the appointment of the chief election commissioner as well as other top officials at the ECP. The first step will be formation of the parliamentary committee by the speaker that will then take up the issue, he added. On accountability bill, he said, that the Ministry of Law would be giving its recommendations for reaching at a consensus before January 26 keeping in view the reservations of the PPP and PML-N so as to conclude this issue. He claimed that the two parties were on the same page on 30 per cent reduction in expenditures both at the centre and the provincial level. They are doing it in Sindh and centre, Dar said referring to the PPP. And we are already doing it in Punjab, he added.