Thursday, June 30, 2022

Asad Umar chairs Economic Coordination Committee meeting


ISLAMABAD: A meeting of the Economic Coordination Committee (ECC) of the Cabinet begins here on Tuesday to discuss a seven-point agenda including a review of the current economic situation of the country, ARY News reported.

The ECC meeting chaired by Finance Minister Asad Umar will also review the position of stocks of the edible commodities.

The meeting will also approve Rs. 180 million for Pakistan Banao Certificates.

The Government of Pakistan has introduced Pakistan Banao Certificates (PBC), a sovereign US Dollar denominated retail level instrument, for Pakistanis having bank accounts overseas.

PBC is the first sovereign retail instrument being offered by the government allows overseas Pakistanis to contribute in their country’s development and earn handsome returns.

The cabinet committee will also consider over an additional grant for the FC headquarters Peshawar and the FIA headquarters.

The Ministry of Interior has demanded Rs. 768.8 million rupees funds for the two projects.

A summary for the gas supply from Fazal Gas Field is also on the business agenda of the ECC session.

The meeting could also approve funds for better management of the western borders of the country.

The ECC could also pass an additional grant for the PAF for the current fiscal year.

The economic committee in its previous meeting allowed signing of the regasified liquefied natural gas (RLNG) supply agreement between the Sui Northern Gas Pipelines Limited (SNGPL) and the Punjab Thermal Power Company for the operations of 1263MW Trimmu Power Project.

Trimmu is the fourth LNG-based project in Punjab allowed by the previous government that is expected to start production ahead of coming peak summer for which additional 150mmcfd of gas is currently being arranged, increasing the total LNG supply to four projects to 1,000mmcfd.


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