ECC releases Rs620.8mn for SSGC in lieu of gas supply to PSM

MG News | June 03, 2022 at 10:34 PM GMT+05:00

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June 3, 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, has released Rs620.85 million for SSGC for gas supply to Pakistan Steel Mills (PSM), said a press release issued today

Federal Minister for Finance and Revenue Mr Miftah Ismail presided over the ECC at Finance Division, today.

As per the press release, the Ministry of Industries and Production submitted a summary for the release of funds for SSGC for gas supply to Pakistan Steel Mills (PSM).

It was submitted that due to the closure of the production activity in Pakistan Steel Mills(PSM), low flame gas of 2 MMCFD is being supplied to PSM primarily to preserve the Coke Oven Batteries and refractories kilns with an average monthly bill of Rs80 million (Approx.).

The ECC after discussion allowed the release of Rs. 620.85 million for making payment of 8 months' outstanding gas bills i.e. July 2021 to Feb 2022.

Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema, Federal Minister for Commerce Syed Naveed Qamar, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, Federal Secretaries and senior officers attended the meeting.

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