ECC Approves Continuation of Subsidized RLNG to Fatima Fertilizer and Agritech

The Economic Coordination Committee (ECC) on Tuesday approved the continuation of subsidized re-gasified liquefied natural gas (RLNG) supply to Fatima Fertilizer and Agritech Ltd.

The meeting, presided over by Finance Minister Ishaq Dar, considered a summary of the Ministry of Energy (Petroleum Division) on the continuation of subsidized RLNG supply to Fatima Fertilizer and Agritech Ltd and allowed operations of the plants on subsidized RLNG from October to December 2022.

The Ministry of Industries and Production submitted a summary on the continuation of the Prime Minister’s Relief Package (PMRP) and Sasta Atta initiative for Khyber Pakhtunkhwa beyond 31st August 2022. After deliberation, the ECC approved the continuation of PMRP and Khyber Pakhtunkhwa Sasta Atta initiative from 1st September till 15th November 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 Utility Stores Corporation (USC).

The ECC also allowed the continuation of PMRP on a hybrid model for a period w.e.f. 16th November to 30th June 2023 (Excluding Ramzan) and allocation of funds to the tune of Rs. 10,755 million through supplementary/technical supplementary grant.

The meeting also allowed the continuation of the Khyber Pakhtunkhwa Sasta Atta initiative and provision of subsidized Atta from 16th November 2022 to 30th June 2023, after rationalizing the number of stores, with the allocation of funds of Rs. 1,560.68 million through supplementary/technical supplementary grant.

The Ministry of Industries and Production submitted a summary for the release of funds for Sui Southern Gas Company Limited (SSGC) for gas supply to Pakistan Steel Mills (PSM. The committee 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 the current fiscal year and releasing of an amount Rs. 298.248 million for the period from March to June 2022.

The ECC also approved the following technical supplementary grants:

  1. Rs. 100 million in favor of the Ministry of Information and Broadcasting for the creation of the Film and Drama Finance Fund for the promotion and support of the film industry in Pakistan.
  2. Rs. 9,767 million including FEC $12.667 million for the Ministry of Defence against various approved projects during CFY 2022-23
  3. Rs. 60.606 million to the National Commission for Human Rights (NCHR)

The ECC deferred the summary presented by the Ministry of Energy, Petroleum Division on the deregulation of superior kerosene oil/ light diesel oil and E-10.

Federal Minister Khurram Dastgir, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Musadik Malik, SAPM on Finance 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.



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