ECC Approves to Repay Rs 82b to OGDCL

Staff Report
The economic coordination committee (ECC) has approved to repay Rs 82 billion to Oil and Gas Development Company Limited (OGDCL).

The Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division.ECC allocates Rs10b to prevent cybersecurity breaches

The ECC approved a proposal of Petroleum Division for release of Rs. 9 billion for clearing the outstanding claims of OMCs including PSO on account of price differential claims.

The Cabinet Committee also approved the summary of Power Division for the repayment of Rs. 82 billion finance facility extended to PHL by OGDCL. It was decided that OGDCL would also clear its liabilities towards GoP from the funds received through this arrangement.

The meeting was attended by the Minister for Industries & Production Rana Tanveer Hussain, Minister for Petroleum Mr. Musadik Masood Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister of State for Finance & Revenue Mr. Ali Pervez Malik, Federal Secretaries, and other senior officials of the relevant ministries.

The Cabinet Committee gave approval of the following Technical Supplementary Grants (TSGs) to various Ministries/Divisions:
1.Rs. 126.848 million to the Cabinet Division for clearing the requirements of outstanding custom duties / taxes.

2.Rs. 29 million to the President Secretariat to meet the expenditures under “Employee Related Expenses”.

3.Rs. 5,400 million to the Ministry of National Health Services, Regulations & Coordination in favour of Federal Directorate of Immunization (FDI) for the immunization activity.

4.4.92 billion to the Ministry of Kashmir Affairs & Gilgit-Baltistan on account of salary & allowances, family assistance packages and social initiatives in education and health sector in Gilgit-Baltistan.
5.Rs. 6,596 million to the Ministry of National Food Security & Research for payment of pending liabilities to PASSCO.

6.Rs. 370 million to the Ministry of Housing and Works to pay the pending liabilities.

7.Rs. 332 million to the Ministry of Economic Affairs for developing Somali National Identification System by NADRA.

8.Rs. 14,250 million to the Finance Division as Rupee cover to facilitate the successful implementation of the Women Inclusive Finance Project.
9.Rs. 96.9 million to the Finance Division for the implementation of Audit Management Information System (AMIS).

10.Rs. 5 billion to Defence Division as seed money for Green Tourism Pakistan Project.

11.Rs. 23.945 billion to the Defence Division against pay shortfalls for current fiscal year.

12.Rs. 10 billion to the Ministry of Interior for the clearing of pending liabilities of ration for Headquarters Fontier Corps and Headquarters Gilgit-Baltistan Scouts.

13.Rs. 0.6 billion to the Ministry of Interior for raising of 3 additional Corps Headquarters.

14.Rs 5.986 million to the Ministry of Interior to meet additional fund requirements.

15.Rs. 9.576 million to the Ministry of Interior for National Academy for Prison Administration.

16.Rs. 87 million to the Ministry of Interior in respect of Headquarters Frontier Corps KP.

17.Rs. 4,637 million to the Ministry of Interior in respect of Civil Armed Forces for meeting the operational requirement and pending liabilities of ration.

18.Rs. 168.834 billion to the Economic Affairs Division on account of revised budget estimates for FY 2023-24.

The proposal of Ministry of Industries & Production for the export of 0.15 million MT of surplus sugar was approved by ECC with the condition that in the event of a rise in retail price of sugar, the permission to export would be revoked. It was also directed that it may be ensured that export proceeds be utilized by the mills for clearing the overdue payments to farmers.

Furthermore, the proposal of the Ministry of Federal Education & Professional Training to exempt HEC from Relending Policy of Foreign Loans/Credits to autonomous bodies was approved.