The Cabinet Committee on Energy (CCoE) Thursday noted that the projected circular debt accumulation was decreasing as a result of the Circular Debt Management Plan being implemented by the government. The committee also appreciated the efforts of the Power Division for regular monitoring of circular debt situation and directed them to timely issue the monthly data for the committee to review. The meeting of the CCOE was held here under the Chairmanship of Minister for Planning, Development and Special Initiatives Asad Umar. The Power Division presented the latest circular debt status and the projections. The CCoE was briefed about the situation of circular debt from July 2020 to December 2020. The CCOE in its meeting considered the report of the sub-committee constituted by the CCOE vide its decision dated January 18, 2021 regarding allocation of pipeline capacity to new LNG Terminals. The CCOE decided that in order to provide fair and level playing field to new LNG terminal, the existing available capacity in pipeline will be allocated to any applicant including CNG, meeting the requisite criteria for three months rolling basis till such time the new Terminals achieve commercial operatios date. The Power Division submitted the summary on Payment mechanism and Agreement with Independent Power Producers (IPPs). Power Division informed the committee that out of 47 MoUs the implementation committee has agreed the payment mechanism with 44 IPPs; Secretary Power Division briefed the Committee on the purposed mechanism. Certain members of the committee sought more time to study the proposals in detail. It was therefore decided that the committee would be reconvened on Feb 08 for a final decision in the matter. The meeting was attended by Minister for Finance Dr Abdul Hafeez Shaikh, Minister for Energy Omar Ayub Khan, Federal Minister for Information and Broadcasting Shibli Faraz, Federal Minister for Maritime Affairs Syed Ali Haider Zaidi, SAPM on Petroleum Nadeem Babar and official of various divisions. Rehabilitation: President of SAARC Chamber of Commerce and Industry and Chairman of United Business Group Iftikhar Ali Malik has said that the government should take immediate steps to curb rising inflation, reduce prices of petroleum products, gas and electricity. He said Pakistan is an agricultural country and agriculture, industry and trade together can play an effective role in the economic development and recovery of the country. Iftikhar Ali Malik, in a telephone conversation with UBG spokesperson Gulzar Feroze, he said that the government should seek the help of the private sector for the formulation of policies. Fortunately, the country’s exports are increasing and in the first month of January this year exports have improved slightly but facilities. He said incentives should be given to the industrial sector to increase overall exports and take advantage of opportunities to increase consumption of Pakistani products in the region. The President of SAARC Chamber said that this year is full of challenges for the government. At present, the people of the country are worried about rising inflation. The government has to take effective measures to increase food production capacity. He said that the concept of shortage in sugar or other food items needs to be eradicated. He said that Pakistan’s economic problems would be lessened or eliminated only when all sectors cooperated with each other as only through joint efforts could Pakistan develop. Iftikhar Ali Malik said that United Business Group is like a family and we are proud of each and every one of its members. Me and SM Munir are trying their best to bring educated young people with passion to work and give them important responsibilities in UBG. Young businessmen will be the capital for the country’s business representatives. Iftikhar Ali Malik thanked UBG spokesperson Gulzar Feroz.