ECC approves Rs2.16bn to cover Pakistan Steel Mill's gas bills

May 24, 2024 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved the request from the Industries and Production Division to release Rs2.159 billion from the already approved budget allocation to pay the gas bills of Pakistan Steel Mill (PSM).

The Committee also considered the summary of Finance Division to make amendments to policy for equity investment abroad to facilitate IT exports.

Further, the ECC considered and approved proposals for Technical Supplementary Grants, including:

1. Rs1.027bn to the Earthquake Reconstruction and Rehabilitation Authority for clearing matured liabilities of the contractors.
2. Rs6.2m to the Ministry of Interior, to be paid to the family of deceased.
3. Rs54.49m to the Ministry of Interior as surrendered by Ministry of National Food Security and Research for the project of ICT Administration, Islamabad.
4. Rs12.036bn to the Ministry of National Health Services, Regulations & Coordination, in favour of Federal Directorate of Immunization (FDI).
5. Rs2.217bn to the Power Division for development expenditures during current fiscal year.
6. Rs184.51m to the Pakistan Nuclear Regulatory Authority.
7. $2.58m and Rs2.5m to the Ministry of Water Resources as the compensation packages for Chinese and local casualities at DASU Hydropower Project.
8. Rs70.48bn to the Ministry of Water Resources as rupee cover for hydropower projects.

The Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb, presided over a meeting of the Committee at the Finance Division, along with other ministers, federal secretaries, and senior officials.

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