Cabinet ratifies ECC decision on gas tariffs

ISLAMABAD: The caretaker federal cabinet on Thursday approved an increase in gas prices for various sectors with an expected highest increase in gas tariff for domestic consumers.

The meeting of the federal cabinet presided over by Caretaker Prime Minister Anwaar-ul-Haq Kakar has ratified the decisions of the ECC dated February 14 and February 7, 2024.

On Wednesday, February 14, 2024, a meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by the caretaker finance minister allowed an increase in gas prices and recommended a uniform gas tariff for fertiliser plants.

ECC may approve increase in gas prices today

Sources said that the Ministry of Energy has proposed up to 65 percent and 66 percent increase in the gas tariff for domestic protected and non-protected consumers, respectively

Moreover, on the recommendation of the Ministry of Commerce, the federal cabinet has approved the transit/ transfer of vehicle spare parts and new tires used by the Afghanistan Country Office under the United Nations Development Program (UNDP) from Karachi Port to Kabul, Afghanistan.

The meeting was informed that such imports and their transfer to Afghanistan are prohibited to prevent smuggling in the country; however, under the UNDP, the said spare parts and tires will be used by the UN and not for commercial use. On the recommendation of the Ministry of Defence Production, the federal cabinet has approved the redeployment of Grade-20 official Khan Nawaz of the Secretariat Group as Member Finance in the heavy industry Taxila.

On the recommendation of the Ministry of Finance, the federal cabinet has approved the exemption of JS Bank’s sponsoring shareholder Shabbir Ahmed Randiri from sections of the Banking Companies Ordinance that would enable him to exercise his voting rights in JS Bank Limited as a 7.06 per cent sponsoring shareholder.

On the recommendation of the Ministry of Interior, the federal cabinet has also approved the handover of Irfan Qadir Bhatti, an accused with dual citizenship, to the Kingdom of Norway after the meeting was informed that Qadir Bhatti was accused of involvement in terrorism by the Norwegian government.

The meeting was further informed that in this regard, Additional Deputy Commissioner Islamabad was appointed as an inquiry officer, who after an investigation came to the conclusion that the accused was involved in terrorism and other illegal activities. In light of this information, the federal cabinet approved the extradition of the accused to Norway.

The federal cabinet approved the appointment of Syed Tariq Muhammad Al-Hasan on the vacant post of managing director of Pakistan Baitul Mal on the recommendation of the Ministry of Poverty Alleviation and Social Security.

The federal cabinet, on the recommendation of the Ministry of Information and Broadcasting, approved the payments made by Pakistan Television Corporation to foreign broadcasters for broadcasting rights of sports events.

The federal cabinet approved the decisions taken in the meeting of the Cabinet Committee on Energy on February 6, 2024, as well as the decisions of the Cabinet Committee on Legislative Affairs meeting on February 7, 2024.

Copyright Business Recorder, 2024