Shaukat Tarin, the Federal Minister of Finance and Revenue, presided over today’s ECC meeting.
Two summaries filed by the Power Division are deferred by ECC.
The Textiles and Apparel Policy, 2020–25, is approved by the ECC.
The Economic Coordination Committee (ECC) deferred the Power Division’s two summaries on the settlement of payables to government-owned power plants and the reintroduction of dividend taxes for investors and shareholders in independent power producers (IPPs) until Wednesday.
According to a statement released by the Power Division, Federal Minister for Finance and Revenue Shaukat Tarin presided over the ECC meeting today.
Syed Fakhar Imam, Federal Minister for National Food Security and Research; Hammad Azhar, Federal Minister for Energy; Muhammed Mian Soomro, Federal Minister for Privatization. The meeting was attended by Abdul Razak Dawood, the Prime Minister’s Adviser on Commerce and Investment, as well as federal secretaries and senior executives.
After making a few adjustments, the Ministry of Commerce filed a revised Textiles and Apparel Policy, 2020–25, along with an implementation report. After much consideration, the ECC accepted the policy with a few changes.
The ECC reviewed the summary filed by the Ministry of Communication for the issue of a sovereign guarantee, or SBLC, worth Rs6,944.0 million against operational viability gap funding (VGF) for the BOT construction of the Sialkot (Sambrial)-Kharian Motorway.
The Ministry of Energy’s Petroleum Division provided a summary of the leasing deal between Saindak Metals Limited and MCC China for the Saindak Copper-Gold Project being extended for another 15 years.After a lengthy debate, the ECC approved the lease extension and advised that the financial side of the project be reviewed annually by professional competence.
The ECC also accepted the summary prepared by the Ministry of Energy’s Petroleum Division for determining the RLNG selling price for PLL’s delivery to K-Electric (KE).
The ECC accepted the idea of revising the gas price applicable to Mazarani Gas Field from US $ 1.75/MMBTU to US $ 3.75/MMBTU from September 1, 2021, based on another report from the Ministry of Energy’s Petroleum Division.
Technical supplemental grants filed by other ministries and divisions were also evaluated and authorised by the ECC.
