ECC approves import of 3 lakh tons of urea

The Economic Coordination Committee of the Cabinet met here Thursday under the Chairmanship of Federal Minister for Finance & Economic Affairs, Dr. Abdul Hafeez Shaikh and considered different summaries moved by Ministry of Petroleum & Natural Resources and Ministry of Industries. After due deliberation, ECC approved the import of 3 lakh tons of Urea for coming kharif season against a proposal of import of 6 lakh tons Urea. ECC also directed the concerned Ministries and Divisions involved in it, to ensure balanced use of port facility at Gwadar, so that this port could also generate revenue for Balochistan Province. The ECC after detailed deliberation approved the signing of Gas Sales Purchase Agreement (GSPA) for the Turkmenistan, Afghanistan, Pakistan, India (TAPI) gas pipeline project. ECC was informed that a steering committee headed by Mr. Naveed Qamar, Minister for Water & Power is already on it for determination of price of gas pipeline. The ECC asked the Minister for Petroleum to make full presentation to the steering committee as well as Member Ministers of ECC. The steering committee should meet regularly, the Chairman asked the members of steering committee. Regarding the summary for pursuing international exploration appointments by Pakistan Petroleum Limited (PPL), ECC directed the concerned Ministry should follow the existing procedure prescribed under F.E. Circular No.12 of the State Bank of Pakistan. On another summary moved by the same ministry on “Financing of Gas Infrastructure Development Schemes”, the ECC reiterated the decision of Energy Conference held on 9th April 2012 for putting complete ban on new connections. The ECC also approved in principle the proposal regarding “amending the policy guidelines on LPG Air Mix, CNG or LNG based pipeline distribution projects undertaken by the Sui Northern Gas Pipelines Limited & Sui Southern Gas Company Limited”. However the ECC constituted a sub-committee comprising Dr. Asim Hussain Minister for Petroleum & Natural Resources, Deputy Chairman Planning Commission, Secretary Finance, Secretary Economic Affairs Division and Secretary Petroleum to further deliberate on the economic costing as well as the impact of final consumer price before implementing the policy and committee will present the recommendation to the ECC.

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