Export sectors: ECC forms a body to review power subsidy

Aftab Ahmed

Islamabad: The Economic Coordination Committee (ECC) on Wednesday formed a subcommittee to review the power subsidies to the export-oriented sector.

During a meeting, Planning Commission proposed to disconnect the subsidy on the supply of gas and electricity to the export-oriented sector.

It said that the export-oriented sector mainly the textile sector was already getting subsidy on electricity and gas and therefore, the government should discontinue the package of additional subsidy to the export-oriented sector.

https://newztodays.com/govt-notifies-relief-pacakge-for-export-oriented-industry/

Federal Minister for Finance and Revenue, Mr Shaukat Tarin, presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet today.

Power Division submitted a summary regarding the release of subsidy for the supply of 100% RLNG to Export Oriented Industry for the month of March 2020.

The ECC approved the summary and decided to form a sub-committee consisting of Adviser to PM on Commerce, SAPM on Power and other relevant stakeholders to review the power subsidies provided to export oriented sectors, with a direction to submit a holistic proposal before the ECC.

Power Division presented another summary before the Committee regarding the release of the first instalment of payment to the Independent Power Producers (IPPs).

The ECC constituted a sub-committee chaired by the Federal Minister for Finance, comprising Ministers and Secretaries from Energy, Petroleum and other concerned Ministries for further deliberations. The sub-committee would present a firmed-up proposal before the next ECC for consideration and approval.

The following Technical Supplementary Grants were approved by the ECC:

Rs. 22.7 million for the Law and Justice Division for meeting the shortfall of funds under various administrative and related heads.
Rs. 10.025 million in favour of the Ministry of Human Rights to fund the National Trust for the Disabled (NTD), Islamabad.
Rs. 7.2 million in favour of the Ministry of Housing and Works for the execution of development schemes of the Interior Division.
Lastly, Rs. 262 million in favour of the Ministry of Housing and Works for meeting various necessary expenses.