ECC to consider paying Rs.61 bln dues to SSGC for resuming gas supply to PSM

December 2, 2020 (MLN): To resume gas supply to Pakistan Steel Mills (PSM), the Economic Coordination Committee (ECC) of the cabinet is considering a proposal to clear Rs.61 billion dues of Sui Southern Gas Supply Company (SSGC).

According to The News, the ECC is meeting today to consider a summary submitted by the ministry of industries and production, asking for settlement of dues of SSGC for the continuation of gas supply to the PSM.

SSGCL recently warned the management of loss-making mills and the federal government it will cut off gas supplies to prevent arrears, as SSGC’s outstanding payments against mills reached to Rs.61 billion.

As per the news agency, the meeting is likely to allocate gas to SSGCL from three new discoveries of Pakistan Petroleum Limited (PPL) to help boost supplies and overcome gas crisis. The gas utility will get 10 million metric cubic feet per day (mmcfd) from PPL’s Gambat south block in district Sanghar, 10 mmcfd from HADAF X-1, and 9.5 mmcfd from Benari X-1.

Furthermore, ECC will also discussed a summary submitted by the ministry of commerce for seeking removal of regulatory duty on cotton yarn import till end-June 2021 which will encourage industrialists to import more and easily meet the demand.

In addition, the ECC is considering a procedure to the registration under the concessionary regime of electricity, re-gasified liquefied natural gas, and gas under the export-oriented sector (zero-rated sector). These include textiles (including jute), carpets, leather, sports, and surgical goods.

Copyright Mettis Link News


Posted on: 2020-12-02T14:20:00+05:00