A meeting of the Economic Coordination Committee (ECC) of the Cabinet was held today under the chairmanship of Federal Minister for Finance Senator Muhammad Aurangzeb.
The ECC considered a summary by the Power Division regarding the solarization of 27,000 agri tube-wells in Balochistan as decided by the Prime Minister on 2nd July 2024, at an estimated cost of Rs. 55 billion born by the Government of Pakistan and Government of Balochistan at a ratio of 70 percent and 30 percent respectively.
The ECC was told that an amount of Rs. 14 billion has already been released by the federal government while the remaining Rs. 24.5 billion is now proposed to be released. The ECC deliberated on the matter and approved transfer of the requisite funds to ensure timely completion of the program. The ECC further instructed the Power Division to closely monitor implementation of key components of the project, particularly the disconnection of tubewells from the grid and removal of transformers and fixtures for every batch of feeders, as agreed under the project. The ECC also directed the Power Division to report back the progress on this account to ECC, in July.
The ECC took up a summary submitted by the Petroleum Division for extension in validity period of sovereign guarantees issued against running finance facility of Rs. 50 billion obtained from banks for LNG payments by the Sui Northern Gas Pipelines Limited (SNGPL).
The committee discussed the matter and approved extension up to June 2026 of the said sovereign guarantees on the basis of improved cash flows of the company.
Besides, the ECC also took up different summaries from various Ministries/Divisions for the grant of Technical Supplementary Grants for various purposes and approved the following:
- Rs. 300 million TSG for the Cabinet Division for provision of funds to operationalize new regulatory authorities and other funding requirements.
- Rs. 1,269 million TSG for Finance Division surrendered by Ministries as part of transfer of PSDP projects related to defunct PWD to federal ministries and provincial departments
- Rs. 250 million TSG for the Ministry of Federal Education and Professional Training as part of Rs 500 million grant approved by the Prime Minister for upgradation of Sadiq Public School Bahawalpur.
- Rs. 109 million additional funds for Ministry of Interior and Narcotics Control for purchase of contingent equipment and store by Civil Armed Forces on deployment of Formed Police Unit for peacekeeping under the United Nations Peacekeeping Missions.
- Rs. 500 million TSG for the Ministry of Interior and Narcotics Control for operational requirement of Frontier Corps (KP) North.
- Rs. 25.9 million TSG for Ministry of Interior and Narcotics Control for maintenance of Cessna aircraft.
- Rs. 2.32 million TSG for Ministry of Interior and Narcotics Control for construction of Michni Training Centre, Frontier Constabulary, Khyber Pukhtunkhwa.
- Rs. 556.8 million TSG for Ministry of Law and Justice for functionalizing 36 benches of Appellate Tribunal Inland Revenue across Pakistan. The release of funds by the Finance Division would coincide with the execution of the project.
- Rs. 106 million TSG for Power Division for programme implementation and awareness activities by the National Energy Efficiency and Conservation Authority (NEECA) for its nationwide fan replacement programme designed with the support of the Power Division, SBP and commercial banks for replacing 88 million inefficient fans across Pakistan with a view to reducing the peak electricity demand by an approximate 5,000 megawatts.
The meeting was attended by Minister for Power Sardar Awais Ahmed Khan Leghari, Minister for Investment Qaiser Ahmed Sheikh, along with federal secretaries and senior officials from relevant ministries and divisions.
