ECC approves Rs25bn grant to avoid disruption in oil supply

The Economic Coordination Committee (ECC) of Cabinet approved Rs25 billion as supplementary grant in favor of the Petroleum Division to address liquidity constraints to PSO for avoiding disruption in LNG and oil supply chain.

The meeting of ECC was held under the chair of Federal Minister for Finance and Revenue Shaukat Tarin.

As per the details, the prevailing commodity market price trend as well as the need for import of LNG, diesel and motor spirit from March to June 2022, the ECC approved Rs25 billion as supplementary grant in favor of Petroleum Division to address liquidity constraints to PSO for avoiding instant disruption in LNG and oil supply chain.

In addition the ECC approved Rs828 million as supplementary grant in favor of the Ministry of Information Technology and Telecommunication for Special Communication Organization.