The Cabinet Committee on Energy (CCOE) on Thursday reviewed the report of a committee, formed to negotiate with Independent Power Producers (IPPs).

The meeting of the committee convened under the Chairmanship of Minister for Planning, Development and Special Initiatives Asad Umar.

The Chairman of the Committee Babar Yaqoob Fateh Muhammad presented its findings, highlights of the MoUs reached with the IPPs and its recommendations to the CCoE.

CCoE discussed various facets of the MoUs and its implementation. An initial estimate of potential savings was also presented to the CCoE.

An implementing committee under the chairmanship of Minister for Energy was formed to pursue the finalization of agreements based on the MoUs and develop an implementation road map.

CCoE will regularly review the progress of the committee.

The meeting was attended by Minister for Energy Omar Ayub Khan, Minister for Information and Broadcasting Shibli Faraz, Special Assistant to Prime Minister (SAPM) on Petroleum Nadeem Babar, SAPM on Mineral Resources Shahzad Qasim and official of various divisions