ECC forms committee on fertilizer industry gas allocation, pricing

October 03, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Tuesday decided to constitute an inter-ministerial Committee to present recommendations on the allocation and pricing of gas for the fertilizer industry, said the press release issued by the Finance Division. 

The said committee will be constituted with the representation of the Ministries of Finance, Planning, Commerce, Food Security, Industries, Power and Energy. 

During the meeting, the Ministry of Energy was directed to continue the supply of gas to all fertiliser plants to ensure a sufficient supply of fertilisers in the market.

The summary regarding pricing and allocation of gas for the fertiliser plants was tabled by the Ministry of Energy (Petroleum Division) & Ministry of Industries.

The meeting also discussed and reviewed the performance and trends of key economic indicators including CPI of various essential items presented by the Ministry of Planning, Development, and Special Initiatives.

Accordingly, the committee decided to constitute a Core group comprising Secretary Planning, Commerce, Food Security and Industry with the mandate to present concrete proposals for monitoring and advising the ECC on prices of the essential commodities as well as maintaining the stocks of the strategic products.

The ECC also approved the first-ever Telecom Infrastructure sharing framework during the meeting. 

In addition, the ECC also approved another summary for the release of IMT spectrum for improvement of the Next Generation mobile broadband services in Pakistan.

The ECC approved the constitution of an advisory committee for the release of the unsold IMT Spectrum along with its terms of reference.

A summary of the Ministry of Industries & Production regarding the “Change of name from M/S Tuwairqi Steel Mills LTD (TSML) to National Steel Complex LTD (NSCL)” was also considered by the committee.

As a result, the ECC gave in-principle approval to the proposal, subject to further review and endorsement by the Law division.

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