ECC allows release of Rs10b budgeted subsidy to Petroleum Division PSO

Economic Coordination Committee has allowed release of 10 billion rupees budgeted subsidy to Petroleum Division PSO to remain current in its payment obligations to LNG suppliers.

The approval was granted during a meeting of Economic Coordination Committee held in Islamabad today with Finance Minister Ishaq Dar in the chair.

The ECC also allowed government guarantee for PSO against bank financing upto 50 billion.

Ministry of National Health Services, Regulation and Coordination submitted a summary regarding transfer of amount to Government of Afghanistan for functioning of three Pakistani hospitals in Afghanistan.

The ECC after discussion approved the revised mechanism for transfer of funds to Afghanistan as proposed by the Afghanistan Inter-Ministerial Coordination Cell with direction to attempt to release the amount in Pak rupees.

Ministry of National Food Security and Research submitted a summary on export of sugar during the year 2022-23 and presented the recommendations of 4th meeting of Sugar Advisory Board.

The ECC after detailed discussions on the recommendation of SAB, allowed 250,000 tons of sugar for export inclusive of previous permitted 100,000 tons by the ECC on fist come first basis.

Ministry of Industry and Production submitted a summary on diversion of RLNG to Urea fertilizer plants upto 31st of this month.

The ECC after deliberation decided to reject the proposal of Ministry of NFS&R and Ministry of I & P and decided that the RLNG supply to these plants would be discontinued with effect from mid tonight.

Source: Radio Pakistan