ISLAMABAD-The Economic Coordination Committee (ECC) of the Cabinet has approved the continuation of Prime Minister’s Relief Package of five essential items on subsidised rates through Utility Stores Corporation (USC) for FY 2023-24 for 10 months from 1st August, 2023 to 30th June, 2024.
Federal Finance and Revenue Minister Senator Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet. The summary of Ministry of Industries and Production regarding continuation of Prime Minister’s Relief Package of five essential items on subsidised rates through Utility Stores Corporation (USC) for FY 2023-24 for 10 months from 1st August, 2023 to 30th June, 2024 (excluding month of Ramazan) was approved with direction that there should be no increase in the price of Atta. The ECC was considered a summary of Finance Division regarding revision in Home Remittance Incentive Schemes. The ECC after discussion approved the proposal of changes in the contours of six incentives schemes of SBP in order to improve the inflow of remittances, and to get optimal remittance inflow through formal channels. The ECC considered and noted the comprehensive report on damaged wheat of PASSCO due to rainfall and floods 2022 presented by Ministry of National Food Security and Research. The ECC also considered a summary of Ministry of Energy (Power Division) regarding a contract with TAVNIR Iran for the purchase of 104MW electricity. The ECC approved the amendments in the contract with TAVNIR related to extension of tariff for existing supply of 104MW (Jackigur-Mand) from 1st January 2022 to 31st December 2024, negotiating tariff for additional supply (Polan-Gabd) and tariff agreed for additional supply of 100MW through Polan-Gabd Transmission Line from 16th March 2023 to 31st December 2024.
The ECC also considered and approved another summary of Power Division regarding application of uniform tariff for KE consumers by way of tariff rationalisation. The ECC approved tariff rationalisation for K-Electric by way of adjustments that shall be applicable on the consumption of April, May, and June 2023 to be recovered from consumers in three months (July, August, and September 2023), respectively. The ECC also considered and approved the summary of Ministry of Energy regarding proposed amendments in Transmission Line Policy 2015 (the TL Policy 2015) for inclusion of ancillary services projects in its scope.
The ECC also considered and approved following Technical Supplementary Grants:
1. Rs3,000 million in favour of Ministry of Information and Broadcasting for Prime Minister’s Health Insurance Scheme for Media Workers, Journalists and Artists and Provisions of Film Finance Fund to MOIB.
2. Rs500 million in favour of Ministry of Defence for security related requirements of JSHQ, during FY 2023-24. Federal Commerce Minister Syed Naveed Qamar, Federal Power Minister Khurram Dastgir Khan, Federal Information and Broadcasting Minister Marriyam Aurangzeb, Federal Industries and Production Minister Makhdoom Syed Murtaza Mehmood, Minister of State for Petroleum Mr Musadik Masood Malik, SAPM on Finance Mr Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Coordinator to PM on Commerce and Industry Rana Ihsan Afzal, federal secretaries and other senior officers attended the meeting.