ISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday approved issuance of salaries to employees of the Pakistan Steel Mills for the month of September, 2018.
It also issued directives for release of four months’ pension to the widows of retired employees of the PSM.
The ECC which met in Islamabad with Finance Minister Asad Umer in the chair decided to fix support price of wheat at Rs1,300 per 40kg. The Committee also issued directives for immediate import of 50,000 tons of urea fertilizer and allowed supply of gas to the Fatima Fertilizer and Agri Tech Fertilizer.
The Committee deferred the release of circular debt to the Pakistan State Oil (PSO).
The Economic Coordination Committee asked the Ministry of Production to put up a proposal to resolve the issue of the Pakistan Steel Mills on permanent basis.
At the previous meeting, the ECC had approved a hike in power tariff for households consuming over 300 units of electricity per month.
It decided that electricity prices would not be raised for domestic consumers using 300 units or less every month.
However, households that consume between 300 and 700 units per month will witness a rise in electricity prices of roughly ten percent or Rs1.18 per unit and a fifteen percent increase will be introduced for those consuming above 700 units.
The committee also decided to provide relief in electricity prices for the agricultural sector, slashing rates by almost 48 percent from Rs10.5 to Rs5.5. They also discussed matters pertaining to the power sector and economic indicators.
