ISLAMABAD, Dr. Shamshad Akhtar, the Federal Minister for Finance, Revenue, and Economic Affairs, chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet, which was attended by several key ministers and government officials. The meeting focused on a range of economic and developmental issues, including maritime affairs, energy, and social safety.

According to Press Information Department (PID), the ECC deliberated on summaries presented by various ministries. A significant decision made was the revision of Lighthouse dues from Rs. 7 per Net Registered Tonnage (NRT) to Rs. 20 per NRT under the Lighthouse Act of 1927.

The ECC also approved the extension of the Government of Pakistan’s (GOP) guarantee ceiling of Rs. 100 billion in favor of Pakistan State Oil (PSO) until December 2024, subject to Finance Division’s approval of terms and conditions for each financing facility upon renewal.

Another key discussion revolved around the disbursement of Rs. 20 billion credited to the Federal Government Account by the Punjab Finance Department for the Green Corporative Initiative (Pvt) for the Green Pakistan Initiative. The ECC authorized the disbursement, advising provincial governments to directly engage with companies under the Green Pakistan Initiative for future transactions.

The committee discussed tariff adjustments for K-Electric Consumers, deciding that tariff rationalization guidelines issued to the National Electric Power Regulatory Authority (NEPRA) would apply to consumption from July to September 2023, with recovery from consumers scheduled for December 2023 to February 2024.

Additionally, the ECC tasked the Benazir Income Support Programme (BISP) to assess 8,000 registered daily wage workers at the Chaman border for eligibility under its system and provide support in consultation with the Government of Balochistan.

Furthermore, the ECC approved a Technical Supplementary Grant of Rs. 47.45 million for repair and maintenance activities during the current fiscal year, as submitted by the Ministry of Interior.

Lastly, the Ministry of Information Technology & Telecommunication’s summary for releasing Rs. 5 billion as bridge finance from the R&D Fund for the Digital Information Infrastructure project was approved by the ECC.