Pakistan is to immediately address the timely payment of electricity charges in power projects under $50 billion China-Pakistan Economic Corridor (CPEC). The decision was taken in the recently held 7th joint cooperation committee (JCC) meeting, the Dawn reported.
The JCC agreed that Pakistan’s agencies in the power sector and Chinese sponsors should sign the supplemental agreements at the earliest, and decided that “Pakistani side will address timely payment of electricity charge in power projects under CPEC as soon as possible”.
Beijing also demanded Islamabad not to adopt differential electricity charge policies towards CPEC power projects designed and constructed to Chinese standards.
However, Pakistan has said that it will respond later.
A revolving bank account should be created within 30 days after commercial operation date of the CPEC energy projects, the report said.
It also added that the joint working group on energy was asked to carry out joint studies on the current power status, future load forecast as well as the potential power market in Pakistan.
A slew of other issues including, but not fettered to the Main Line-1 project, tax on machinery/equipment and construction material, EastBay Expressway Phase-II; Gwadar Port Breakwater and Gwadar Port Dredging, were discussed as well.