ISLAMABAD: A meeting of the Economic Coordination Committee (ECC) is likely to approve Thursday (Dec 28) technical supplementary grant for the Commerce Ministry for sharing of subsidy on imported urea on equal basis between the federal and provincial government.

To be presided over by caretaker Finance Minister Dr Shamshad Akhtar, the ECC meeting would consider the Petroleum Division’s proposal with regard to approval of TAPI Project as qualified investment and investment incentives package under the Foreign Investment (Promotion and Protection) Act, 2022 (FIPPA).

The ECC meeting would also consider a proposal moved by the Ministry of Overseas Pakistanis and Human Resource Development’s request for the approval of the revised estimates for the fiscal year 2021-22 and budget estimates for the fiscal year 2022-23 and revised estimates 2022-23 and budget estimates fiscal year 2023-24 of the Employees Old Age Development Institution (EOBI).

Imported fertilizer for Rabi season: Subsidy to be borne by provinces

The Petroleum Division has also moved another agenda of amendment in the decision of the ECC of the Cabinet regarding urea fertiliser requirement for Rabi Season 2023-24.

The ECC meeting would also consider the Power Division’s proposal regarding approval of the principles for settlement of capacity power deduction issues of imported coal-based projects and subsequent execution of side agreement with Port Qasim Electric Power Company.

Copyright Business Recorder, 2023