The Economic Co-ordination Committee (ECC) of the Cabinet meeting scheduled today (Wednesday) is likely to consider allocation and pricing of LNG along with associated matters, it was learnt. Sources said that the ECC meeting chaired by Finance Minister Ishaq Dar would consider Ministry of Petroleum proposal for allocation, pricing and associated matter of RLNG.
An official said that the last meeting of the ECC has decided that Oil and Gas Regulatory Authority (OGRA) would fix the price of LNG on monthly basis. However, the OGRA has reportedly refused to fix monthly gas prices, as law permits the authority to fix gas prices biannually and not monthly.
The Ministry of Petroleum had submitted to the ECC that the allocation of Ms Fauji Kabirwala Power Company Ltd (FKPCL) may be included in the list based on the latest approval of the ECC vide case No ECC-16/2/2015 dated 23.01.2015 by equivalent reduction from KAPCO.
Whereas GSA of Ms Rousch Power is expiring in June, 2015, therefore, allocation of RLNG to them was also proposed by replacing 100 MMCFD, RLNG allocation made to Nandipur Power plant which is likely to take time for receiving RLNG owing to technical modifications in plant.
Sources added that that the ECC would also consider a proposal for import of 380,000 metric tone of urea for Kharif season (April-September 2015. Ministry of Industries and Production is also expected to consider Ramzam Package of Rs 1.8 billion to provide subsidy on 13 items from Rs 5-10 during the upcoming holy month of Ramzan. An official said that the Ministry of Water and Power is also expected to put up a proposal to the ECC meeting with respect to utilisation of the existing available capacity of short term IPPs to deal with the power crisis in the summer.
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