ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved a proposal for placing gas use for industrial processes as the first priority alongside domestic and commercial sectors.
The ECC meeting chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb also decided that Pakistan Central Cotton Committee (PCCC) should be considered for winding it up. It was therefore directed that a case be submitted to the Cabinet Committee for Rightsizing of the Federal Government.
On the summary of the Ministry of Energy (Petroleum Division) regarding a change in the gas supply priority order, the ECC approved the proposal to amend the existing gas allocation priority by placing gas use for industrial processes as the first priority alongside domestic and commercial sectors.
Settlement of circular debt thru adjustments strong probability
The gas use for industries using captive power was relegated to a lower priority alongside the Compressed Natural Gas (CNG) sector. “This measure would facilitate the industry using gas in its processes, as they would be included in the top priority category,” said a statement issued by the Finance Division.
On a proposal of the Ministry of National Food Security and Research for a loan of Rs656 million to the PCCC to enable the organisation to pay salaries and pensions to its employees, the ECC deliberated on the rationale and decided that this entity should be considered for winding it up. It was therefore directed that a case be submitted to the Cabinet Committee for Rightsizing of the Federal Government.
The ECC reviewed a summary from the Ministry of Communications concerning the “Kalkatak-Chitral 48km (Section-III) Road Project (N-45) - Procurement of Civil Works” and authorised the Ministry of Communications and the National Highways Authority to proceed with the procurement of civil works as per Public Procurement Rule-5.
The ECC considered a proposal for provision of funds amounting to Rs238.42 million, for clearing arrears of wheat subsidy schemes 2015-16, by the Ministry of National Food Security and Research (NFSR). The ECC took into account the recommendations of the Senate Standing Committee on Finance and Revenue, and directed the ministry to arrange the funds through the available budgetary resources and settle the long pending claims.
The meeting was attended by Minister for Economic Affairs Ahad Khan Cheema, Minister for Commerce Jam Kamal Khan, Minister for Power Sardar Awais Ahmed Khan Leghari, Minister for Petroleum Mussadiq Masood Malik, Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Minister for Privatisation and Investment Abdul Aleem Khan, Minister for Industries and Production Rana Tanveer Hussain, Minister of State for Finance and Revenue Ali Pervaiz Malik, deputy chairman Planning Commission, governor SBP, and chairman SECP, federal secretaries, and senior officers from concerned ministries and divisions.
Copyright Business Recorder, 2024
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