PM Abbasi chairs ECC meeting at PM’s office

ISLAMABAD: Prime Minister of Pakistan Shahid Khaqan Abbasi chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet at Prime Minister’s office here on Friday.

The meeting approved financing plan for 1.2 billion cubic feet per day (BCFD) capacity RLNG-III pipeline project, from Karachi to Lahore, to be undertaken by SSGCL and SNGPL. The ECC directed Petroleum Division to also examine the possibility of a public-private partnership for the project.

In the meeting, a proposal to allocate 10 MMCFD gas from Adam X-1 and 18 MMCFD from Adam West X-1 to SSGCL was also approved. It was further decided that the price of gas will be determined as per the applicable petroleum policy.

The ECC also granted approval for issuance of GoP Sovereign Guarantee for Rs 39,000 million for construction of two 660 MW coal power projects at Jamshoro. The approval has been granted after third-party evaluation of the project and authentication of the projected demand and supply data submitted by NTDC.

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The ECC also approved a proposal for withdrawal of sales tax and customs duty on imported cotton effective from January 08, 2018.

The prime minister and members of ECC appreciated Finance Secretary Shahid Mehmood for his meritorious services to the government of Pakistan. Shahid Mehmood will retire from service on January 06, 2018.

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