Rs9bn approved for clearing OMCs’ PDCs: ECC allows export of 0.15 MMTs of surplus sugar

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has allowed export of 0.15 million MTs of surplus sugar and approved Rs9 billion for clearing the outstanding claims of Oil Marketing Companies (OMCs) including PSO on account of price differential claims.

The ECC meeting presided over by Finance Minister Muhammad Aurangzeb approved Petroleum Division’s proposal for release of Rs9 billion for clearing the outstanding claims of OMCs including PSO on account of price differential claims.

The meeting also approved a proposal of Ministry of Industries and Production for export of 0.15 million MT of surplus sugar with the condition that in the event of a rise in retail price of sugar, the permission to export would be revoked.

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It was also directed that it may be ensured that export proceeds are utilised by the mills for clearing the overdue payments to farmers.

The meeting also approved a summary of Power Division for the repayment of Rs82 billion finance facility extended to PHL by OGDCL. It was decided that OGDCL would also clear its liabilities towards government from the funds received through this arrangement. Moreover, the proposal of the Ministry of Federal Education and Professional Training to exempt HEC from Relending Policy of Foreign Loans/Credits to autonomous bodies was approved.

The ECC meeting approved Technical Supplementary Grants (TSGs) of around Rs244 billion for various ministries and divisions. These TSG included; (1) Rs126.848 million to the Cabinet Division for clearing the requirements of outstanding custom duties/taxes; (2) Rs29 million to the President Secretariat to meet the expenditures under employee related expenses; (3) Rs5,400 million to the Ministry of National Health Services, Regulations and Coordination in favour of Federal Directorate of Immunization (FDI) for the immunization activity; (4) Rs4.92 billion to the Ministry of Kashmir Affairs and Gilgit-Baltistan on account of salary and allowances, family assistance packages and social initiatives in education and health sector in Gilgit-Baltistan; (5) Rs6,596 million to the Ministry of National Food Security and Research for payment of pending liabilities to PASSCO; (6) Rs370 million to the Ministry of Housing and Works to pay the pending liabilities; (7) Rs332 million to the Ministry of Economic Affairs for developing Somali National Identification System by NADRA; (8) Rs14,250 million to the Finance Division as rupee cover to facilitate the successful implementation of the Women Inclusive Finance Project; (9) Rs96.9 million to the Finance Division for the implementation of Audit Management Information System (AMIS); (10) Rs5 billion to Defence Division as seed money for Green Tourism Pakistan Project; (11) Rs23.945 billion to the Defence Division against pay shortfalls for current fiscal year; (12) Rs10 billion to the Ministry of Interior for the clearing of pending liabilities of ration for Headquarters Frontier Corps and Headquarters Gilgit-Baltistan Scouts; (13) Rs0.6 billion to the Ministry of Interior for raising of 3 additional Corps Headquarters; (14) Rs5.986 million to the Ministry of Interior to meet additional fund requirements; (15) Rs9.576 million to the Ministry of Interior for National Academy for Prison Administration; (16) Rs87 million to the Ministry of Interior in respect of Headquarters Frontier Corps KP; (17) Rs4,637 million to the Ministry of Interior in respect of Civil Armed Forces for meeting the operational requirement and pending liabilities of ration; and (18) Rs168.834 billion to the Economic Affairs Division on account of revised budget estimates for fiscal year 2023-24.

The meeting was attended by the Minister for Industries and Production Rana Tanveer Hussain, Minister for Petroleum Musadik Masood Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister of State for Finance and Revenue Ali Pervez Malik and officials of relevant ministries.

Copyright Business Recorder, 2024