The Economic Coordination Committee (ECC) of the Federal Cabinet approved the release of Rs 9 billion to clear the outstanding claims of oil marketing companies (OMCs), including Pakistan State Oil (PSO), on account of price differential claims.
These claims are related to the price differential, which is the difference between the cost of fuel sold by these companies and the regulated prices they are allowed to charge consumers.
The committee also approved a proposal of the Petroleum Division for the release of Rs 9 billion for clearing the outstanding claims of OMCs, including PSO, on account of price differential claims.
The meeting of the ECC was held under the chair of Minister for Finance and Revenue Senator Muhammad Aurangzeb on Thursday and was attended by Minister for Industries and Production Rana Tanveer Hussain, Minister for Petroleum Musadik Masood Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister of State for Finance & Revenue Ali Pervez Malik, federal secretaries, and other senior officials of the relevant ministries.
The committee also approved the summary of the Power Division for the repayment of the Rs 82 billion finance facility extended to Power Holding Limited (PHL) by Oil and Gas Development Company Limited (OGDCL).
It was decided that OGDCL would also clear its liabilities towards the Government of Pakistan from the funds received through this arrangement.
The ECC also approved the following Technical Supplementary Grants (TSGs) to various ministries and divisions:
– Rs 126.848 million to the Cabinet Division for clearing the requirements of outstanding custom duties/taxes;
– Rs 29 million to the President Secretariat to meet the expenditures under “Employee Related Expenses”;
– Rs 5,400 million to the Ministry of National Health Services, Regulations & Coordination in favour of the Federal Directorate of Immunization (FDI) for the immunization activity;
– Rs4.4.92 billion to the Ministry of Kashmir Affairs & Gilgit-Baltistan on account of salary & allowances, family assistance packages and social initiatives in the education and health sector in Gilgit-Baltistan.
– Rs. 6,596 million to the Ministry of National Food Security & Research for payment of pending liabilities to PASSCO;
– Rs 370 million to the Ministry of Housing and Works to pay the pending liabilities;
– Rs 332 million to the Ministry of Economic Affairs for developing the Somali National Identification System by NADRA;
– Rs 14,250 million to the Finance Division as Rupee cover to facilitate the successful implementation of the Women Inclusive Finance Project;
– Rs 96.9 million to the Finance Division for the implementation of Audit Management Information System (AMIS);
– Rs 5 billion to the Defence Division as seed money for the Green Tourism Pakistan Project;
– Rs 23.945 billion to the Defence Division against pay shortfalls for the current fiscal year;
– Rs 10 billion to the Ministry of Interior for the clearing of pending liabilities of ration for Headquarters Frontier Corps and Headquarters Gilgit-Baltistan Scouts;
– Rs. 0.6 billion to the Ministry of Interior for the raising of 3 additional Corps Headquarters;
– 14.Rs 5.986 million to the Ministry of Interior to meet additional fund requirements;
– Rs. 9.576 million to the Ministry of Interior for the National Academy for Prison Administration; and
– Rs 87 million to the Ministry of Interior in respect of Headquarters Frontier Corps KP and Rs 4,637 million in respect of Civil Armed Forces for meeting the operational requirement and pending liabilities of ration.
The ECC also approved Rs168.834 billion to the Economic Affairs Division on account of revised budget estimates for FY 2023-24.
The proposal of the Ministry of Federal Education & Professional Training to exempt the Higher Education Commission from Relending Policy of Foreign Loans/Credits to autonomous bodies was approved by the ECC.
