ECC approves supplementary grants for various departments, ministries

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ISLAMABAD
The Economic Coordination Committee of the Cabinet has approved supplementary grants worth over 36 billion rupees in favour of various departments and ministries, including over 10 billion rupees to procure vaccines and syringes for un-interrupted supply to the provinces.
The ECC, which met in Islamabad Wednesday with Finance Minister Ishaq Dar in the chair, allowed Sui Northern Gas Pipelines Limited based fertilizer plants such as Fatima Fertilizer and Agritech to operate till the end of August this year to meet requirement of the urea fertilizer in the country.
The SNGPL-based fertilizer plants include Fatima Fertilizer (Sheikhupura) and Agritech, said a press release on Wednesday. Ministry of Industries and Production submitted a summary of Urea Fertilizer requirements for the year 2023 and briefed on the urea fertilizer situation in the country.
Ministry of Climate Change and Environmental Coordination submitted a summary on the participation of Sindh’s Mangroves projects in voluntary carbon markets and presented that Sindh Forest Department is implementing two Indus Delta Mangrove projects viz Delta Blue Carbon-I(DBC-I) and Delta Blue Carbon-II (DBC-II) to generate carbon credits and trade with international entities on Voluntary Carbon Market(VCM).
The ECC after discussion approved the proposal of the Ministry that the DBC-I and DBC-II projects as these were initiated prior to the commitment made under NDCs in 2021 and these projects are expected to generate around US$ 200 to 220 million till 2043 with additional benefits of creating green jobs.
The ECC also considered a summary of the Ministry of Energy (Power Division) on payment mechanisms and agreements with M/s Uch Power (Pvt) Limited. ECC approved the proposals of the Ministry for a Novation Agreement, Master Agreement, and PPA amendment that would result in savings of Rs. 33 billion over a period of seven years.