ECC likely to allow sharing of subsidy on imported Urea on a 50:50 basis

March 30, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, in its meeting which is scheduled to be held today at 1030 hours, will discuss the matter related to sharing of subsidy on imported Urea on a 50:50 basis. 

The committee will also discuss the grant of second two years' renewal over Kirthar exploration license block (2667-7)

Declaration of commerciality, approval of field development plan over Hilal and Iqbal discoveries.

The committee will also review the request for Extended Well Testing (EWT) over Ghazij-1 Discovery Mari (D&PL).

Implementation of Article 8.7 of the Implementation Agreement signed between government of Pakistan and K-Electric (Erstwhile KESC) will also likely to be considered. 

Technical Supplementary Grant (TSG) amounting to Rs607.600 million in favour of Ministry of Energy (Power Division) under Demand 101-FC22D96-Development Expenditure of Power Division during FY23 will also be reviewed. 

TSG worth Rs5000mn will likely be approved in favour of Ministry of Housing & Works under Demand No. "128-Capital Outlay on Civil Works" during FY23.

The committee will also discuss the engagement of International Finance Corporation as transaction advisor for the outsourcing of airports (Islamabad, Karachi & Lahore).

The meeting will be chaired by the Federal Minister for Finance and Revenue Senator Ishaq Dar.

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