ECC to discuss gas sector circular debt

July 20, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, in its meeting which is scheduled to be held today at 1,700hrs, will discuss the aggravating Gas Sector Circular Debt Relief to the Public Sector E&P Entities through Payment of Sales Tax on Installment Basis Under Section 6(5) of the Sales Tax Act, 1990.

The committee will also review Solar Panels and Allied Equipment Manufacturing Policy 2023.

Also, demand for funds worth Rs42.53 billion as Technical Supplementary Grant (TSG) for the conduct of General Elections in FY 2023-2024 will be assessed.

In addition, the meeting will discuss the TSG of Rs200 million for the SIFC Secretariat and Waiver on the purchase of banned goods.

The committee is going to discuss the allocation of PASSCO’s wheat amongst recipient agencies/provinces/areas for 2023-2024.

Furthermore, the decision regarding the deregulation of Superior Kerosene Oil/Light Diesel Oil and E-10 (SKO/LDO/E-10) will also be discussed.

The ECC will review the revision of cess rates of tobacco for the year 2023-24.

Allocation of Condensate to Attock Refinery Limited (PSX: ARL) and its Freight Charges Adjustment through IFEM will be another agenda to be assessed.

In addition, the committee will Look into the sui mining lease and other issues raised by the Government of Baluchistan.

The committee will also review the comprehensive sustainable plan for price rationalization of subsidized wheat in Gilgit-Baltistan.

Last but not least, the approval of the budget proposal for the year 2022-2023 and revised budget estimates for 2021-2022 of Employees' Old Age Benefits Institutions (EOBI) will be another subject for discussion and review.

The meeting will be chaired by the federal minister for Finance and Revenue Senator Mohammad Ishaq Dar.

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