Islamabad, June 22, 2023 (PPI-OT): Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet, today. Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Mr. Khuram Dastgir Khan, Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema, Federal Minister for Industries and Production Syed Murtaza Mahmud, Minister of State for Petroleum Mr. Musadik Masood Malik, SAPM on Finance Mr. Tariq Bajwa,SAPM on Revenue Mr. Tariq Mehmood Pasha, Coordinator to the PM on Economy Mr. Bilal Azhar Kayani, Coordinator to PM on Commerce and Industry Rana Ihsan Afzal , Federal Secretaries and other senior officers attended the meeting.
Ministry of Commerce submitted a summary regarding suspension of Import conditions contained in Import Policy Order 2022 related to import of Timber/Wood and briefed the meeting on the concerns of the wood/timber industry. The ECC after detailed discussion, suspended the relevant import conditions from the date of issuance of IPO 2022 to 31st October, 2023 with direction to the MoNFS and R to review the import policy and come up with suggestions to settle this issue. The ECC also considered and approved another summary of Ministry of Commerce regarding amendment in relevant clause in the Import Policy Order 2022 to allow Government agencies to import Pharmaceutical raw material.
Ministry of Energy (Power Division) submitted a summary regarding Quarterly Tariff Adjustments of K-Electric and informed that as per National Electricity Policy 2021, the Government may maintain a uniform consumer-end tariff for K-Electric and state owned distribution companies. Accordingly, KE applicable uniform variable charge is required to be modified to maintain the uniform tariff across the country. The ECC after discussion approved a surcharge of Rs.1.52/unit to be recovered from K-Electric Consumers in 12 months. The ECC further allowed release and utilization of available budget of Rs. 76 billion as payment of arrears under different heads.
The ECC considered another summary of Ministry of Energy (Power Division) regarding implementation of revised circular debt management plan and utilization of Rs. 20.726 billion to Government owned power plants. The ECC after discussion authorized Power Division to utilize one-time full amount out of assignment account in relaxation of limit of using Rs. 4 billion per month during June 2023 for the next five months and to ensure that there will be no more payment liability to IPPs for the period July 2023 to Nov, 2023.
The ECC also considered and approved another summary of Power Division regarding release of Rs. 56 billion as approved under revised CDMP against the AJ and K receivables.
The ECC approved following Technical Supplementary Grants:
i. Rs. 567.120 million as TSG in favour of Ministry of Federal Education and Professional Training for its development expenditure.
ii. Rs. 40 Million as TSG in favour of Ministry of Federal Education and Professional Training for Cadet College Hassanabdal for need based scholarships to financially challenged students.
iii. Rs. 14.022 million as TSG in favour of Federal Tax Ombudsman for ERE expenditure.
iv. Rs. 19.236 million as TSG in favour of Ministry of Interior for Repair and Maintenance of Helicopter by Pakistan Rangers.
v. Rs. 6.279 million as TSG in favour of the Directorate General of Immigration and Passports.
vi. Rs. 150 million as TSG in favour of Intelligence Bureau to meet its ERE expenditure.
vii. Rs. 147.913 million as TSG in favour of Gilgit-Baltistan Council and its departments.
viii. Rs. 500 Million as TSG in favour of Ministry of Housing and Works for the execution of development projects.
ix. Rs. 470.26 million in favour of Ministry of Housing and Works for Repair and Maintenance of Supreme Court of Pakistan building, Islamabad and Judges residences, Rest houses and sub-offices in various cities.
For more information, contact:
Director General (Media)
Ministry of Finance
Government of Pakistan
Room # 514, Block-‘Q’, Finance Division,
Pak. Sectt. Islamabad, Pakistan
Tel: +92-51-9211707, +92-51-9208281, +92-51-9206382
Fax: +92-51-9210877
Email: so_coord1@finance.gov.pk
Website: http://www.finance.gov.pk/