[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The Cabinet’s Economic Coordination Committee (ECC) has authorised Rs. 50 billion in financing for lawmakers’ Sustainable Development Goals programmes.
Senator Ishaq Dar, Federal Minister of Finance and Revenue, presided over the ECC meeting.
The committee granted more than Rs. 50 billion in cash for the execution of development programmes under the SDGs Achievement Programme (SAP) in Punjab, Sindh, Balochistan, and Khyber Pakhtunkhwa provinces, at the request of the Ministry of Housing and Works, Power, and Petroleum divisions.
Meeting of the Economic Coordination Committee (ECC) of the Cabinet was chaired today by Finance Minister Senator Mohammad Ishaq Dar and attended by Federal Ministers, Secretaries and Govt officials. (1/2) pic.twitter.com/8bfqGiUCGI
— Ministry of Finance, Government of Pakistan (@Financegovpk) July 24, 2023
Meanwhile, the Ministry of National Food Security and Research presented a summary for the allocation of PASSCO’s wheat among recipient agencies/provinces/areas for the year 2023-24, informing them that the recipient agencies have made their demand of 2,488,000 MT for the food year 2023-24. Following deliberation, the ECC agreed to allocate wheat to beneficiaries at a rate of 50% local and 50% imported, based on the stock’s weighted average price.
The ECC further ruled that all beneficiaries pay the full price of wheat and PASSCO incidental charges because the federal government would bear no financial accountability for the supply of wheat to the different provinces/entities.
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The ECC also ordered the provincial governments to pay PASSCO’s pending liabilities of Rs. 149 billion before signing the MoU for wheat purchase for the current year.
The ECC approved a summary of the Ministry of Industries and Production regarding amendments to the EPZA Rules, 1981, and EPZs (Control of Entry and Exit of Persons and Goods) Regulations, 1994, to allow the import of construction material from the tariff area into EPZs of the Northern region (Sialkot, Gujranwala, and Risalpur), as well as all future EPZs in local currency rather than foreign convertible currency for their speedy colonisation and achievement of optimum export.
The Power Division presented a summary for approval of the 1,263 MW CCPP-Punjab Thermal Power (Pvt) Limited Jhang commissioning. Following discussion, the ECC approved the proposal of deferring performance tests on HSD as required by the government of Punjab and declaring the Commercial Operation Date (COD) of Punjab Thermal Power (Pvt) Limited on RLNG upon successful completion of Commissioning Test testing on RLNG; and in the event of RLNG fuel non-availability, PTPL shall be treated on forced outages under the PPA until the power plant is successfully tested on HSD fuel.
The Petroleum Division provided a summary of the distribution of condensate to Attock Refinery Limited and the adjustment of freight charges via IFEM. Following debate, the ECC approved the request and authorised the reallocation of 5,000 BPD condensate from UEPL’s Naimat Facility to ARL.[/vc_column_text][/vc_column][/vc_row]
