April 19 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved the supplementary grant of Rs68.74 billion for the disbursement of Price Differential Claims (PDC) of Oil Marketing Companies (OMCs) and refineries for the month of April 2022 and to meet the shortfall for the month of March 2022, said a statement issued by Finance Division today.
Due to the continuously rising trend of oil prices in the international market, the quantum of subsidy for the month of April 2022 has been higher than in March 2022.
The statement further added that the previous government did not consider the PDCs for the 1st fortnight of April 2022. Substantially, the present government has to bear the burden of a higher quantum of subsidy as PDCs of the OMCs.
The summary of PDC of OMCs and refineries was tabled by Petroleum Division.
Federal Minister for Finance and Revenue Mr Miftah Ismail presided over the meeting.
Federal Minister for National Food Security and Research Makhdoom Syed Murtaza Mehmood, Federal Secretaries and senior officers attended the meeting.
