ECC sanctions Rs9bn payout for OMCs, including PSO to clear dues

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MG News | June 13, 2024 at 09:46 PM GMT+05:00

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June 13, 2024 (MLN): The Economic Coordination Committee (ECC) approved a proposal of the Petroleum Division on Thursday to release Rs9 billion to Oil Marketing Companies (OMCs) including Pakistan State Oil (PSO).

The amount is authorized to the OMCs so that they can settle their outstanding claims arising on account of price differential claims.

Additionally, the ECC granted its approval for significant technical supplementary grants, along with proposals from other ministries.

The Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb chaired the meeting of the Committee along with other government officials.

These included the Minister for Industries & Production Rana Tanveer Hussain, Minister for Petroleum Musadik Masood Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister of State for Finance & Revenue Ali Pervez Malik, Federal Secretaries, and other senior officials of the relevant ministries.

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