ISLAMABAD: Federal Minister for Finance Asad Umar presided over Economic Coordination Committee (ECC) meeting today.
The meeting approved enhancement in sugar export quota from 1,00,000 to 11,00,000 tons while the Committee also approved Rs2 billion to clear the outstanding dues of front support.
On a proposal of Ministry of Commerce, relating to export of sugar, the ECC approved waiving off of the condition related to start of crushing on November 15. The Committee observed that the matter relating to freight support etc for exports fall in the domain of the respective provincial governments. With regard to the outstanding claims for the previous years, the committee directed Finance Division to release the budgeted amounts.
ECC allowed allocation of up to 30 MMCFD gas from Zafir field, distt Sanghar, to M/s Sui Southern Gas Company Ltd (SSGCL).
ECC also considered proposal from Ministry of Energy (Petroleum Division) for allocation of 66 MMCFD Mari Deep Gas to MPCL and approved the same. The Committee sought further proposals on the utilization of the gas for power generation or production of fertilizer.
ECC recommended to the Cabinet a case for supplementary grant of Rs. 1.80 billion for agriculture tube well subsidy as proposed by Ministry of Energy (Power Division).
The ECC discussed a report submitted by Ministry of Industries & Production on measures to ensure availability of Urea fertilizer in the country and the possible impact on the price of urea owing to use of RLNG due to shortage of system gas in winter.
The Committee in the end expressed its deep appreciation for the Power Division for having initiated a successful drive for reduction of losses and improvement of recoveries.