Mr. Omar Ayub Khan, Federal Minister for Economic Affairs chaired a meeting of Economic Coordination Committee (ECC) of the Cabinet today in Islamabad. The meeting was attended by Adviser to the Prime Minister on Finance & Revenue Mr. Shaukat Tarin, Federal Minister for National Food Security & Research Syed Fakhar Imam, Federal Minister for Planning, Development & Special Initiatives Mr. Asad Umar, Federal Minister for Industries & Production Makhdum Khusro Bakhtyar, Federal Minister for Energy Mr. Hammad Azhar, Federal Minister for Privatization Muhammad Mian Soomro, SAPM on Poverty Alleviation Dr. Sania Nishtar, relevant federal secretaries and other senior officers.
The ECC deliberated in detail and approved the summary presented by Ministry of National Food Security & Research for purchase of 175,000 MT imported Wheat by World Food Programme (WFP) from PASSCO’s stock for Pakistan and Afghanistan. The wheat flour will compliment to the WFP’s food basket for distribution to the food vulnerable population in Pakistan and Afghanistan within the WFP’s commitment to eliminate hunger.
The ECC also approved the summary tabled by Poverty Alleviation & Social Safety Division for inclusion of beneficiaries of Ehsaas Kafalat Program with PMT score between 29.01 to 37 under the recent NSER survey in Ehsaas Emergency Cash (EEC-2) Program. These beneficiaries are proposed to be provided one-time emergency cash assistance of Rs. 12,000/- per beneficiary on first come first served basis. This support would help to mitigate socioeconomic impact on poor and vulnerable segments of the society amid COVID-19 pandemic.
The ECC discussed in detail and approved the proposal submitted by Ministry of Energy for increase of OMC’s and Dealers’ margins for Motor Spirit (MS) and High Speed Diesel (HSD) with effect from forth coming revision in oil prices.
The ECC also discussed the following summaries and directed the concerned Ministries/Divisions to resubmit their summaries after revision of the proposals:
i. Summaries submitted by Ministry of Industries & Production on Contractual Obligations of Heavy Electrical Complex (HEC); Provision of Un-targeted Subsidy for November and December 2021 under PM’s Relief Package; Exemption of Duties and Taxes for Uninterrupted Supply of Oxygen Gas in the Country for Medical Purposes.
ii. Summary tabled by Ministry of Petroleum seeking permission to amend the petroleum concessions agreement allowing GHPL assignment of working interest in Wali, Jandran West, Saruna and Pezu blocks of OGDCL.
iii. Summary submitted by Ministry of Energy regarding levy of Sales Tax on subsidy granted by Federal Government to DISCOs.
Earlier, Adviser to the Prime Minister on Finance & Revenue Mr. Shaukat Tarin presided over a meeting of Technical Advisory Committee (TAC) of the ECC. The TAC discussed the summaries in detail and proposed its recommendation for consideration of the Economic Coordination Committee.
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