The Economic Coordination Committee (ECC) of Cabinet Tuesday directed the Ministry of Energy to continue the supply of gas to all fertilizer plants till March 2024, to ensure a sufficient supply of fertilizers in the market.
The meeting chaired by Caretaker Finance Minister Dr Shamshad Akhtar issued the directions for the supply of gas on summaries moved by the Ministry of Energy (Petroleum Division) & Ministry of Industries regarding pricing and allocation of gas for the fertilizer plants.
The committee also decided to constitute an inter-ministerial committee with the representation of the Ministries of Finance, Planning, Commerce, Food Security, Industries, Power, and Energy to present recommendations on the allocation and pricing of gas for the fertilizer industry.
A summary of the Ministry of Industries regarding the change of name from Tuwairqi Steel Mills LTD (TSML) to National Steel Complex LTD (NSCL) was also considered by the committee. The committee gave in principle approval to the proposal, subject to further review and endorsement by the Law Division.
The meeting discussed and reviewed the performance and trends of key economic indicators including CPI of various essential items presented by the Ministry of Planning, Development, and Special Initiatives.
The meeting decided to constitute a core group comprising Secretary Planning, Commerce, Food Security, and Industry with the mandate to present concrete proposals for monitoring and advising the ECC on prices of the essential commodities as well as maintaining the stocks of the strategic products.