Caretaker Federal Minister for Finance Dr Shamshad Akhtar presided over a meeting of the Economic Coordination Committee (ECC) of the Cabinet today.
The ECC considered and approved a proposal of the Ministry of Information Technology and Telecommunication regarding the allocation of Rs. 10 billion through Technical Supplementary Grant (TSG) during the current fiscal year (FY24) for the Digital Information Infrastructure Initiative. The funds will be utilized to provide requisite technical capabilities to proactively identify potential cyber threats on the national critical information infrastructure besides preventing cyber security breaches.
The ECC considered the proposal of the Petroleum Division regarding the re-grant of Sui Development and Production Lease. The provincial government of Balochistan indicated its endorsement of the proposal, following which the ECC approved the summary.
A summary of the Ministry of Maritimes Affairs regarding “Revised Fee of Issuance of Certificate of Quality and Origin and Other Certificates for Fish and Fishery Products under Pakistan Fish Inspection and Quality Control Rules, 1998” was also approved with the directions to the Ministry of Finance and Ministry of Maritimes Affairs, to explore further avenues of investment.
The Ministry of National Food Security and Research presented a summary regarding the “Extension of Farm Mechanization Scheme of Kissan Package” to the forum which was approved after a detailed discussion.
A summary of the Ministry of Energy (Petroleum Division) regarding amendment in the decision of ECC regarding “Urea Fertilizer Requirement for Rabi Season 2023-24” was discussed in the committee. The forum approved the proposal, which did not involve any subsidy implications.
Another summary of the Ministry of Energy regarding “Deed of settlement Pursuant to the Pakistan Oil Refining Policy 2023- for upgradation of Existing/ Brownfield Refineries” was also considered. ECC noted that the settlement proposal suggested by the Finance Division was appropriate and the Petroleum Division may offer the same to the private party.
Three summaries of Petroleum Division regarding “Supply of Gas/RLNG to Fatimafert and Agritech to meet the requirement of Urea”, “Allocation of Gas from M/s United Energy Pakistan’s Mohar Field to SSGCL” and “Allocation of Condensate to Attock Refinery Limited and its Freight Charges Adjustment through Inter Freight Equalization Mechanism” were also approved after detailed deliberations by the forum.
The meeting was attended by the Minister for Energy Mohammad Ali, Minister for Planning Sami Saeed, Minister for Communication Shahid Ashraf Tarar, Minister for Information and Technology Umar Saif, Deputy Chairman Planning Commission, Advisor to PM on Finance, Federal Secretaries, and other senior government officers of the relevant ministries.