ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved a settlement framework for recovering petroleum levy arrears from Cnergyico PK Limited (CPL), which have been outstanding since 2019. The Petroleum Division has been authorised to formalise the settlement deed, with the ECC stressing that the entire audited levy must be recovered as per the agreed terms.
The meeting was chaired by Finance Minister Senator Muhammad Aurangzeb and attended by Federal Ministers for Power, Petroleum, National Food Security, and Industries & Production, alongside senior officials from relevant ministries.
In addition to the CPL framework, the ECC approved a Technical Supplementary Grant of Rs3.813 billion for Pakistan Television Corporation (PTVC) to cover tariff adjustments and net metering, with further disbursements to cover salaries, pensions, and operational expenses on a quarterly basis. The Committee emphasised that PTV should gradually reduce its dependence on government allocations and move toward self-sustainability.
The ECC also endorsed a mechanism to pass the benefit of levies collected from captive power consumers to electricity grid consumers and approved tariff terms proposed by the Petroleum Division for the Machike-Thallian Tarrujabba White Oil Pipeline project with Azerbaijan, aimed at enhancing bilateral trade and investment.
Finally, the Committee sanctioned Rs3 billion for flood relief in Gilgit-Baltistan, covering tents, medicines, food, and reconstruction of damaged infrastructure, in line with directives from Prime Minister Shehbaz Sharif following his recent visit to the affected areas.
