EU urged to help Pak get GSP status

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ISLAMABAD: Federal Minister for Finance and Economic Affairs Dr. Abdul Hafeez Shaikh urged the European Union (EU) on Thursday to support for Generalized System of Preferences (GSP) for Pakistan.

"Pakistan wants more trade as it brings investment and create jobs", the Finance Minister said during a meeting with European Commission Ambassador Lars Gunnar Wigemark here.

Dr Shaikh appreciated EU's assistance for development and natural disasters in Pakistan, acknowledged EU's support for enhanced market access to EU and stressed for package's early operationalization as it is still under process at World Trade Organization (WTO).

The Minister also updated the Ambassador on Economic Situation, Fiscal position and Relationship with IMF. The European Commission Ambassador discussed the progress on the implementation of Multi-annual Indicative Programme II (MIP II) signed in June 2011.

Earlier, 8th meeting of Cabinet Committee of Re-structuring (CCOR) on power sector was also held here on Thursday under the Chairmanship of Dr. Abdul Hafeez Sheikh.

This meeting was held in continuation of pursuing structural reforms in the power sector under the Power Sector Reforms Plan 2010 finalized by CCOR.

The committee discussed in detail the reconstitution of Board of Directors (BODs) of Power Sector Companies. After due deliberation, the CCOR finalized the names of BODs of GENCO Holding Company for 4 GENCOs and Sukkur Electric Power Company (SEPCO).

The CCOR also deliberated the establishment of Central Power Purchase Authority (CPPA) and its BODs. They decided that two representatives from Government sides, two from private sector, two from distribution companies and two from consumer side would be
included in BODs.

The committee also discussed the appointments of CEOs in DISCOs. They directed that the appointments of CEOs in DISCOs be finalized on urgent basis. (APP)