Federal Finance Minister Ishaq Dar on Tuesday allowed the continuation of Prime Minister’s Relief Package (PMRA) and Sasta Atta Initiatives for Khyber Pakhtunkhwa (KP) through Utility Stores Corporation (USC) till June 30, 2023, and approved the release of funds for gas supply.
The meeting held by the Economic Coordination Committee (ECC) at Finance Division was attended by Federal Minister for Power Khurram Dastgir Khan, Minister of State for Finance and Revenue Aisha Ghaus Pasha, Minister of State for Petroleum Musadik Masood Malik, SAPM on Finance Tariq Bajwa, SAPM on Government Effectiveness Muhammad Jehanzeb Khan, Coordinator to PM on Commerce and Industry Rana Ihsan Afzal, Federal Secretaries, FBR Chairman and other senior officers.
The committee approved the release of funds for Sui Southern Gas Company Limited (SSGC) for gas supply to Pakistan Steel Mills (PSM).
The production of PSM has been stopped since 2015 and low flame gas of two million cubic feet per day (MMCFD) is being supplied to them just to preserve the coke oven batteries and refractory kilns, they shared.
ECC considered a summary of the petroleum division on the continuation of subsidized RLNG supply to Fatimafert and Agritech Ltd and allowed operations of the plants on subsidized RLNG from October 2022 to December 2022.
After deliberation, the ECC approved the continuation of PM’s Relief Package (PMRP) and Khyber Pakhtunkhwa Sasta Atta initiative from September 1 to November 15, 2022 on the existing model of untargeted subsidy at the prevailing rates and allocation of additional funds amounting to Rs4,908 million over and above the regular budgetary allocation through supplementary/technical supplementary grant to recoup the amount already spent by USC.
In addition to that, the ECC approved Rs1.2million for sixteen month gas bills from the already approved budgetary allocation of Rs10 billion to PSM for the fiscal year 2022-23 and releasing of an amount of Rs298.248 million for the period from March to June 2022.
ECC allowed operations of Fatimafert and Agritech ltd plants on subsidized RLNG from Oct 2022 to Dec 2022.
ECC also approved technical supplementary grants from the Ministry of information and Broadcasting and the Ministry of Human Rights.
The ECC also approved technical supplementary grants of Rs100 million in favor of the Ministry of Information and Broadcasting for the creation of Film and Drama Finance Fund for promotion and support of the film industry in Pakistan.
Moreover, Rs9,767 million including FEC $12667 million was approved for the Ministry of Defence against various approved projects during CFY 2022-23. With that, Rs60.606 million to the National Commission for Human Rights (NCHR) has also been decided.
The ECC deferred the summary presented by the Ministry of Energy, Petroleum Division on deregulation of superior kerosene oil/ light diesel oil and E-10.