Islamabad November 15 2022: Economic Coordination Committee allowed operations of Fatima fertilizer and Agritech ltd plants on subsidized RLNG from Oct 2022 to Dec 2022.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) at Finance Division, today.
Ministry of Industries and Production submitted a summary on continuation of Prime Minister’s Relief Package (PMRP) and Sasta Atta initiative for Khyber Pakhtunkhwa beyond 31st August, 2022. After deliberation, the ECC approved ( i ) continuation of PM’s Relief Package (PMRP) and Khyber Pakhtunkhwa Sasta Atta initiative from 1st Sep till 15th Nov. 2022 on the existing model of untargeted subsidy at the prevailing rates and allocation of additional funds amounting to Rs. 4,908 million over and above the regular budgetary allocation through supplementary/technical supplementary grant to recoup the amount already spent by USC. ( ii ) The ECC also allowed continuation of PMRP on hybrid model for a period w.e.f. 16th Nov. to 30th June, 2023 (Excluding Ramzan) and allocation of funds to the tune of Rs. 10,755 million through supplementary/technical supplementary grant and ( iii ) continuation of Khyber Pakhtunkhwa Sasat Atta initiative and provision of subsidized Atta from 16th Nov. 2022 to 30th June 2023, after rationalizing number of stores, with allocation of funds of Rs. 1,560.68 million through supplementary/technical supplementary grant.
Ministry of Industries and Production submitted a summary for release of funds for SSGC for gas supply to Pakistan Steel Mills (PSM). It was shared that the production of PSM has been at a halt since 2015 and low flame gas of 2 million cubic feet per day (MMCFD) is being supplied to PSM primarily to preserve the Coke Oven Batteries and refractory kilns. The ECC after deliberation approved Rs. 1,258.248 million for sixteen month gas bills from the already approved budgetary allocation of Rs. 10 billion to PSM for FY 2022-23 and releasing of an amount Rs. 298.248 million for the period from March to June 2022.
The ECC considered a summary of Ministry of Energy, Petroleum Division on continuation of subsidized RLNG supply to Fatimafert and Agritech Ltd and allowed operations of the Plants on subsidized RLNG from October, 2022 to December 2022.
The ECC also approved following technical supplementary grants: i. Rs. 100 million in favour of Ministry of Information and Broadcasting for creation of Film and Drama Finance Fund for promotion and support of film industry in Pakistan. ii. Rs. 9,767 million including FEC USD 12.667 million for Ministry of Defence against various approved projects during CFY 2022-23 iii. Rs. 60.606 million to the National Commission for Human Rights (NCHR) The ECC deferred the summary presented by Ministry of Energy, Petroleum Division on deregulation of superior kerosene oil/ light diesel oil and E-10.
Federal Minister for Power Mr. Khurram Dastgir Khan, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Mr. Musadik Masood Malik, SAPM on Finance Mr. Tariq Bajwa, SAPM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, Federal Secretaries, Chairman FBR and other senior officers attended the meeting.
