ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has approved a proposal of the Power Division regarding the release of subsidy for the supply of 100 percent RLNG to export-oriented industry for the month of March last year.
Federal Minister for Finance Shaukat Tarin presided over the meeting on Wednesday.
The cabinet committee decided to form a sub-committee consisting of Adviser to PM on Commerce Abdul Razak Dawood, SAPM on Power Tabish Gauhar and other relevant stakeholders to review the power subsidies provided to export-oriented sectors, with a direction to submit a holistic proposal before the ECC, the statement added.
The Power Division presented another summary before the committee regarding the release of the first instalment of payment to the independent power producers (IPPs). The ECC constituted a sub-committee headed by the federal minister for finance and comprising ministers and secretaries from energy, petroleum and other concerned ministries for further deliberations. The sub-committee would present a firmed-up proposal before the next ECC for consideration and approval.
The committee also approved various technical supplementary grants (TSGs) including Rs22.7 million for the Law and Justice Division for meeting the shortfall of funds under various administrative and related heads and Rs10.025 million in favour of the Ministry of Human Rights to fund the National Trust for the Disabled (NTD), Islamabad.
It also approved Rs7.2 million in favour of the Ministry of Housing and Works for the execution of development schemes of the Interior Division and Rs262 million in favour of the Ministry of Housing and Works for meeting various necessary expenses.
Among others, the cabinet committee meeting was attended by Minister for Interior Sheikh Rashid Ahmad, Minister for Economic Affairs Omar Ayub Khan, Minister for Energy Hammad Azhar; Minister for Privatisation Muhammad Mian Soomro, Minister for Railways Azam Swati, Adviser to PM on Institutional Reforms Dr Ishrat Hussain, SAPM on Power Tabish Gauhar, SAPM on Revenue Dr Waqar Masood Khan, federal secretaries, chairman Board of Investment, Securities and Exchange Commission of Pakistan (SECP) chairman and other senior officers. State Bank of Pakistan Governor (SBP) Dr Reza Baqir joined through a video-link, the statement added.
