Pakistan

ECC approves financing plan for RLNG-III pipeline project

Pipeline project

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet chaired by Prime Minister Shahid Khaqan Abbasi on Friday approved financing plan for RLNG-III pipeline project.

The ECC meeting held at the PM Office in Islamabad approved financing plan for 1.2 billion cubic feet a day capacity RLNG-III pipeline project (Karachi to Lahore). The project will be undertaken by Sui Southern Gas Company Limited and Sui Northern Gas Company Limited.

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The ECC directed Petroleum Division to also examine the possibility of Public-Private Partnership for the project.

It also granted approval for issuance of sovereign guarantee for Rs39,000 million for construction of two 660 megawatt coal power projects at Jamshoro.

The ECC also approved a proposal for withdrawal of sales tax and customs duty on imported cotton.

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ECC approves financing plan for RLNG-III pipeline project

by Web Desk