The Economic Coordination Committee (ECC) of the Cabinet on Wednesday allowed the provision of Rs. 8.39 billion in favor of the Benazir Income Support Program (BISP) for cash subsidy to farmers of flood-affected areas.
Federal Minister for Finance and Revenue Senator Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet.
Finance Minister Senator Mohammad Ishaq Dar presided over the meeting of the ECC and approved a number of financial proposals including cash subsidy to farmers of flood affected area, financial aid to the families of the deceased and pre-shipment inspection of imported wheat. pic.twitter.com/ZkKAPlpkGX
— Ministry of Finance, Government of Pakistan (@Financegovpk) January 25, 2023
The ECC considered a summary of the Ministry of Poverty alleviation & Social Safety on subsidy for wheat seed (Rabi 2022-23) and allowed the provision of Rs. 8.39 billion through technical supplementary grants (TSG) in favor of BISP for cash subsidy to farmers of flood affected areas instead of provision of wheat seeds.
The committee directed BISP to initiate cash disbursement through its partner bank as per eligibility criteria and the amount to be disbursed to each eligible person identified by the government of Sindh
Adam X-1 development and production lease
The ECC considered a summary of the Ministry of Energy (Petroleum Division) and granted an extension in Adam X-1 development and production lease for a period of five years w.e.f. 10-02-2022 in order to increase domestic oil and gas production and reduce the burden of imported energy.
Adam X-1 Development and Production lease was granted for a period of seven years w.e.f. 10-02-2015, covering an area of 19.42 sq. km and located in the district Sanghar. The field still has potential for further commercial production.
Extended Well Testing over Umair SE-1 Discovery
The meeting considered another summary of the Ministry of Energy (Petroleum Division) and allowed one-year extended Well Testing (EWT) over Umair SE-1 Discovery Guddu (E.L) w.e.f. start of production under EWT arrangements.
It was informed that an exploration license (EL) was granted over Guddu Block in 1999, operated by M/s OGDCL. Based on the results of seismic data, OGDCL has made a new discovery in the Guddu EL from the Habib Rahi Limestone and Pirkoh Limestone by drilling a well namely Umair S.E-1.
Increase in drug price
The ECC also considered a summary of the Ministry of National Health Services, Regulations and Coordination and approved an increase in maximum retail prices (MRP) of one drug as per the recommendation of the Drug Pricing Committee.
Pre-shipment inspection of imported wheat
The ECC granted approval to a summary submitted by the Ministry of Commerce and allowed TCP to carry on pre-shipment inspection of imported wheat at load ports by its already pre-qualified six international pre-shipment inspection agencies (PSIAs) to ensure the quality of imported wheat as per approved specifications. It was informed that a number of wheat consignments are due in the coming months.
Financial aid for heirs of deceased
The ECC also considered and approved two summaries of the Ministry of Interior regarding the grant of financial aid of Rs. 10 million to the legal heirs of the deceased who died during the recent suicide blast in Islamabad and Rs. 20 million for the legal heirs of the deceased who died during the recent long march of a political party.
Financial sustainability of PCCC
The ECC discussed a summary of the Ministry of National Food Security & Research (MNFS&R) for TSG of Pakistan Central Cotton Committee (PCCC) employees and formed a committee consisting of secretaries of MNFS&R and Commerce headed by SAPM on Government Effectiveness Dr. Muhammad Jehanzeb to evaluate viable options for the financial sustainability of PCCC and to submit a report in 15 days.
The ECC also approved the following Technical Supplementary/Supplementary Grants:
- Rs. 844.389 million in favor of the Ministry of Housing and Works for repair and maintenance of the Supreme Court of Pakistan building, Judges’ Residences, Rest houses & Sub-offices in various cities.
- Rs. 3 billion to Cabinet Division for development expenditure under SDGs Achievement Programme (SAP).
Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir, Federal Minister for Planning Ahsan Iqbal, Federal Minister for Industries and Production Syed Murtaza Mahmud, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, former prime minister Shahid Khaqan Abbasi, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, SAPM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, Federal Secretaries and other senior officers attended the meeting.