The Economic Coordination Committee (ECC) of the Cabinet here on Tuesday approved critical financial relief of Rs 3 billion for flood-affected areas of Gilgit-Baltistan, alongside key measures aimed at strengthening fiscal discipline, resolving long-standing dues in the energy sector, and supporting strategic infrastructure projects.
\nAccording to a press release issued by finance ministry, the meeting was chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.
\nAmong others, it was attended by Federal Minister for Power, Sardar Awais Ahmad Khan Leghari; Federal Minister for Petroleum, Ali Pervaiz Malik; Federal Minister for National Food Security and Research, Rana Tanveer Hussain; Special Assistant to Prime Minister for Industries and Production, Haroon Akhtar Khan and federal secretaries, representatives from relevant regulatory bodies, and senior officials of concerned Ministries and Divisions.<\/p>\n
The summary for flood relief was submitted by the Ministry of Kashmir Affairs and Gilgit-Baltistan and States and Frontier Regions regarding release of funds for flood relief in Gilgit-Baltistan in line with the Prime Minister\u2019s directives during his recent visit to the affected region.
\n\u201cThe ECC approved the release of Rs 3 billion for timely provision of tents, medicines, food and other essential supplies for the affected families, as well as for reconstruction of damaged infrastructure and early recovery measures to support the affected communities,\u201d the statement added.
\nMeanwhile, the ECC considered a summary from the Ministry of Information and Broadcasting regarding a Technical Supplementary Grant (TSG) of Rs 11 billion in favour of Pakistan Television Corporation (PTVC) against Tariff Adjustment and Net Metering, and approved Rs 3.813 billion with the remaining to be released on a quarterly basis for payment of salaries, pensions and operational expenses of the state broadcaster.
\nWhile approving the request, the ECC underscored that PTV needed to reduce its reliance on budgetary support and chart a path towards self-sustainability.<\/p>\n
The Committee also deliberated on a summary from the Petroleum Division regarding recovery of petroleum levy defaulted on by M\/s Cnergyico PK Limited (CPL) since 2019. After a detailed discussion, the ECC approved the settlement framework prepared in line with the decisions of SIFC Apex\/EC\/IC for recovery of the principal amount of petroleum levy duty audited to date, and authorized the Petroleum Division to sign the proposed deed of settlement with CPL.
\nThe Committee further directed that the entire outstanding amount of petroleum levy be recovered strictly in accordance with the terms of the settlement.
\nOn a summary from the Power Division regarding relief to power consumers on account of captive transmission levy, the ECC approved the mechanism proposed by the Division to pass on the benefit of levy collected from captive power consumers to electricity grid consumers.
\nThe Committee also considered a summary seeking review of tariff determination of the Machike-Thallian Tarrujabba White Oil Pipeline project being developed on a government-to-government basis with Azerbaijan, and approved the terms and conditions proposed by the Petroleum Division to enable the launch of this strategic project, which will further strengthen bilateral friendship, trade, and investment ties between Pakistan and Azerbaijan.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Economic Coordination Committee (ECC) of the Cabinet here on Tuesday approved critical financial relief of Rs 3 billion for flood-affected areas of Gilgit-Baltistan, alongside key measures aimed at strengthening fiscal discipline, resolving long-standing dues in the energy sector, and supporting strategic infrastructure projects. According to a press release issued by finance ministry, the meeting […]<\/p>\n","protected":false},"author":2,"featured_media":499143,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-499133","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n