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Islamabad News Pakistan

Economic Coordination Committee approves Rs 5 billion Ramzan relief package.

Ramzan Package

ISLAMABAD: Profit learned on Wednesday that the Economic Coordination Committee had approved the Rs 5 billion Ramzan Relief Plan for Utility Stores Corporation-2023.

The meeting of the ECC was presided over by Finance Minister Ishaq Dar. A summary of the relief package was presented by the Ministry of Industries and Production.

Following a discussion, the ECC authorised a hybrid model of Ramzan Relief Package (Targeted and Untargeted) with 19 elements.

According to sources, the Ministry of Industry has allotted Rs 1.15 billion for targeted subsidies and Rs 3.84 billion for untargeted subsidies on vegetable ghee, tea, flour, sugar, milk, drinks, dates, and gramme flour.

Meanwhile, the government has set aside Rs 14 million for Ramzan package media coverage.

It is worth noting that the PTI administration has set out Rs 8.24 billion for USC in 2022.

After a long discussion, the ECC authorised a consistent procurement price of Rs 3900/40 kg based on a summary given by the Ministry of National Food Security and Research.

Also Read: PM Shehbaz announces free wheat flour for poor under Ramazan package

The ECC also took into account a summary provided by the Ministry of Marine Affairs. It approved the Karachi Port Trust (KPT) board’s resolve to waive all storage charges on stuck-up containers/cargo held up at Karachi Port due to non-retirement of Letters of Credit (LCs) and remittances of foreign exchange. The clearance is conditional on demurrage charges on each instance over Rs 5 million being waived after verification by SBP. The committee also instructed that a monthly report on the quantity and amount of cleared consignments be submitted.

The Ministry of Energy (Power Division) filed a summary of the Uniform Tariff for K-Electric at the same level as XW DICSOS for the second quarter of 2021-22. Following a discussion, the ECC approved tariff rationalisation for K-electric by adjusting consumption from July 2022 to September 2022 and recovering from customers from March 2023 to May 2023, respectively.

The ECC considered another Ministry of Energy (Power Division) summary on uniform tariff for K-Electric at par with XW DISCOS 1st Quarter 2022-23 and allowed tariff rationalisation by way of adjustments for K-electric on consumption from February 23 to March 23 and to recover from consumers from March 2023 to April 2023, respectively.

The ECC also reviewed another statement from the Ministry of Energy (Power Division) and accepted a proposal to increase the surcharge for fiscal year 24 to satisfy federal government obligations to power producers. Furthermore, similar fees will be implemented to K-Electric customers in FY 24 in order to maintain uniform tariffs across the country.