May 25, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, on Wednesday allowed Sui Northern Gas Pipelines Limited (SNGPL) -based fertilizer plants i-e Fatima Fertilizer (Sheikhupura) and Agritech to operate beyond May 31, 2023, till August 31, 2023, on indigenous gas with no subsidy requirement from the federal government, said a press release issued by Finance Division on the same day.
Ministry of Industries and Production submitted a summary of Urea Fertilizer requirements for the year 2023 and briefed on the urea fertilizer situation in the country.
The committee also approved the proposal of the Ministry that the DBC-I and DBC-II projects as these were initiated prior to the commitment made under NDCs in 2021.
These projects are expected to generate about $200 to $220 million by 2043 with the additional benefit of creating green jobs.
This summary on the participation of Sindh’s Mangroves projects in voluntary Carbon Markets was tabled by the Ministry of Climate Change & Environmental Coordination that also presented that Sindh Forest Department is implementing two Indus Delta Mangrove projects viz Delta Blue Carbon-I(DBC-I) and Delta Blue Carbon-II (DBC-II) to generate Carbon Credits and trade with international entities on Voluntary Carbon Market(VCM).
The ECC considered a summary of the Ministry of Energy ( Power Division) on payment mechanisms and agreements with Uch Power (Pvt) Limited.
After detailed discussion, the ECC approved the proposals of the Ministry for a Novation Agreement, Master Agreement, and PPA Amendment that would result in savings of Rs33bn over a period of seven years.
The ECC considered and approved the following Technical Supplementary Grants/ Supplementary Grants:
- Rs2.5mn in favour of the Ministry of Climate Change and Environment Coordination to meet its expenditures.
- Rs 263.988mn in favour of the office of Controller General of Accounts (CGA) for implementation of online billing solutions in Federal and Provincial Accountant Generals.
- Rs497.261mn in favour of the Ministry of Housing and Works for the execution of the development scheme titled “Construction of Railway underpass Gojra, district Toba Tek Singh”.
- Rs420mn in favour of the Ministry of Information and Broadcasting to meet its budgetary shortfall for Information Services abroad.
- Rs10,746.216mn in favour of the Federal Directorate of Immunization (FDI) to procure vaccines and syringes for uninterrupted supply to the provinces.
- Rs20bn in favour of the Cabinet Division for Sustainable Development Goals Achievement Programme (SAP).
- Rs25mn in favour of the President's Secretariat for ERE expenditures.
- Rs208mn in favour of the Intelligence Bureau to meet its Employee Related Expenses.
- Rs4000mn in favour of the Ministry of Defence to meet its expenditures.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the said meeting.
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Posted on: 2023-05-25T11:24:59+05:00