ECC approves levy recovery deal with Cnergyico

August 26, 2025 (MLN): The Economic Coordination Committee (ECC) of the Cabinet approved a settlement framework for the recovery of petroleum levy defaulted on by Cnergyico PK Limited (CPL) since 2019.

The framework prepared in line with the decisions of SIFC Apex/EC/IC, authorizes the Petroleum Division to sign the proposed deed of settlement with CPL.

The Committee further directed that the entire outstanding amount of petroleum levy duty, audited to date, must be recovered strictly in accordance with the agreed terms.

The meeting, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at the Finance Division, was attended by Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Federal Minister for Petroleum Ali Pervaiz Malik, Federal Minister for National Food Security Rana Tanveer Hussain, Special Assistant to the Prime Minister for Industries and Production Haroon Akhtar Khan, along with senior officials from relevant ministries and divisions.

The ECC also considered and approved other key proposals, including a Technical Supplementary Grant of Rs 3.813 billion for Pakistan Television Corporation (PTVC) against Tariff Adjustment and Net Metering, with the remaining to be released quarterly for salaries, pensions and operational expenses.

While granting the support, the Committee stressed the need for PTV to gradually reduce reliance on budgetary allocations and move toward self-sustainability.

On a summary from the Power Division, the ECC approved a mechanism to pass on the benefit of levy collected from captive power consumers to electricity grid consumers.

The Committee further approved the terms and conditions proposed by the Petroleum Division for tariff determination of the Machike-Thallian Tarrujabba White Oil Pipeline project, a government to government initiative with Azerbaijan, aimed at boosting bilateral trade and investment ties.

Additionally, the ECC sanctioned Rs 3bn for flood relief in Gilgit-Baltistan, ensuring timely provision of tents, medicines, food and reconstruction of damaged infrastructure in line with the Prime Minister’s directives during his recent visit to the affected areas.

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