ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, Monday, approved maximum provision of gas to Pak Arab and Fauji Fertilizer Bin Qasim Limited (FFBQL) to ensure that estimated demand for urea fertiliser is met through domestic production to stabilise prices of urea fertiliser during Rabi season 2021-22.
Federal Minister for Finance and Revenue Shaukat Tarin, presided over the meeting of the ECC of the Cabinet, held at the Finance Division. Federal Minister for Industries and Production Khusro Bakhtiar, Federal Minister for Energy Hammad Azhar, Federal Minister for Railways Azam Khan Swati, Minister of State for Information Farrukh Habib, Advisor to PM on Commerce Abdul Razak Dawood, federal secretaries and other senior officers participated in the meeting.
Secretary, Ministry of Industries and Production presented a summary regarding provision of gas to Pak Arab and FFBQL to review demand for urea fertiliser during the Rabi season 2021-22.
After detailed discussion, the ECC approved maximum provision of gas to Pak Arab (58MMCFD) and FFBQL (63MMCFD) to ensure that estimated demand for urea fertiliser is met through domestic production.
Rabi season: urea fertilizer demand comes under the spotlight
They said the decision will stabilise prices of urea fertiliser and ensure its smooth supply throughout the country during Rabi season 2021-22.
The Ministry of Commerce presented a Textile and Apparel Policy, FY 2020-25.
After due deliberation, the ECC constituted a sub-committee comprising representatives of Ministry of Commerce, the Finance Division, the Ministry of Industries and Production, Power and Petroleum Divisions, the FBR and the State Bank of Pakistan to review and present an updated policy before the ECC in a couple of weeks.
The ECC considered and approved a summary presented by the Ministry of Information Technology and Telecommunication regarding allocation of Rs2 billion as a single line budget for Pakistan Software Export Board (PSEB), an apex government body, mandated to strengthen and promote the IT sector exports of Pakistan.
Moreover, the ECC also approved the allocation of Rs4 billion to the PSEB for disbursement of cash reward incentives in order to give incentives to IT exports and to encourage documentation of exporters/exports.
Copyright Business Recorder, 2021
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