The Economic Coordination Committee (ECC) on Wednesday approved the supply of indigenous gas to fertilizer plants to meet urea requirements in the country for the upcoming Kharif crops season.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the ECC of the Cabinet, read a statement released by the Ministry of Finance.

The ministry presented details on the demand, production and domestic production gap of urea fertilizer in the country for the 2023 kharif crops (also known as monsoon crops or autumn crops) season.

“Setting aside the option of importing the urea fertilizer, the ECC decided and directed Petroleum Division to supply indigenous gas to urea fertilizer plants till 31st May, 2023 to meet the urea requirement in the country for Kharif 2023,” read the statement.

Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Syed Murtaza Mahmud, Federal Minister for Commerce Syed Naveed Qamar, Shahid Khaqan Abbasi MNA/Ex-PM, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, SAPM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, Federal Secretaries and other senior officers attended the meeting.

ECC extends sugar export time period to 60 days

On Tuesday, the ECC, after a detailed discussion, allowed an extension in sugar export time from 45 days to 60 days for shipment from the date of quota allocation.

The committee also allowed Rs50 billion sovereign guarantee in favour of the Sui Northern Gas Pipeline Limited (SNGPL) for commercial borrowing to support Pakistan State Oil (PSO). It also approved the proposal of the MNFSR to fix cotton (Phutti) Intervention Price at Rs8,500/40 kg for the current sowing season.