ECC to discuss gas sector circular debt relief

July 24, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, in its meeting which is scheduled to be held today at 1,600hrs, 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, the demand for funds worth Rs47.15 billion as a Technical Supplementary Grant (TSG) in favor of the Ministry of Housing and Works from PSDP "SDGs Achievement Programme (SAP)" will be reviewed.   

In addition, the meeting will discuss the Amendments in EPAZ Rules, 1981 and EPZs (Control of Entry and Exit of Persons and Goods) Regulation, 1994.

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

Furthermore, the decision regarding the import of Petroleum Products from the Russian Federation will also take place at the meeting.

The ECC will review the approval of the Commissioning of 1263 MW CCPP-Punjab Thermal Power (Put) Limited, Jhang.

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 continuation of the Prime Minister's Relief Package for FY 2023-24.

The committee will further address the approval for the Fixation of Maximum Retail Prices (MRPs) of twenty-six new drugs as recommended by the Drug Pricing Committee (DPC) in its 544' meeting.

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 federal minister for Finance and Revenue Senator Mohammad Ishaq Dar will chair the meeting.

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