ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, chaired by caretaker Finance Minister Dr. Shamshad Akhtar, has sanctioned a Ramazan package worth Rs7.492 billion aimed at providing subsidies to the targeted beneficiaries of the Benazir Income Support Programme (BISP). This decision, made during Tuesday’s meeting, seeks to alleviate financial burdens during the holy month of Ramazan. The approved amount is part of the budget allocated for the fiscal year 2023-24.
Additionally, the ECC deferred a decision on proposed gas price hikes to its next session for further review and discussion.
The committee also addressed proposals for tariff rationalization and reviewed custom duties from various sectors, ultimately approving the proposal while emphasizing coordination with the trade policy.
Furthermore, the ECC greenlit the import of wheat and export of wheat flour under the Export Facilitation Scheme 2021. It directed relevant ministries to develop comprehensive plans to enhance opportunities for value-added exports.
Approval was also granted for the commissioning of the 1,263 MW CCPP Punjab Thermal Power (Pvt) Limited, Jhang (PPTL), as per the Power Division’s summary.
In a bid to address subsidy concerns on imported urea, the ECC approved a Technical Supplementary Grant (TSG) of Rs6 billion for the Ministry of Commerce to clear arrears from the previous financial year. It was emphasized that no subsidy on this account has been allowed in the current fiscal year, with directives issued to provincial governments to clear their respective subsidy arrears.
The Ministry of Planning, Development, and Special Initiatives briefed the ECC on the country’s inflation situation, with directives issued for detailed analysis and timely measures based on data collected by the PBS.
Key attendees at the meeting included Minister for Privatization and Inter-Provincial Coordination Fawad Hasan Fawad, Minister for Interior, Commerce, and Industries Gohar Ejaz, Minister for Energy and Petroleum Division Mohammad Ali, Minister for Planning, Development, and Special Initiatives Sami Saeed, Minister of Maritime Affairs, Communication, and Railways Shahid Ashraf Tarar, Deputy Chairman Planning Commission Dr. Muhammad Jehanzaeb Khan, and Advisor to the Prime Minister on Finance Dr. Waqar Masood, along with federal secretaries and senior government officers from relevant ministries. -PR
