ECC to discuss losses incurred by PSO and Oil Industry owing to devaluation of PKR

April 7, 2020 (MLN): A meeting of the Economic Coordination Committee (ECC) of the Cabinet is scheduled to take place tomorrow, i.e, April 8 2020,  in which the committee will discuss the matter pertaining to losses incurred by PSO and Oil Industry due to devaluation of Pakistani Rupee.

In addition to this, the Committee will constitute the Price Negotiating Committee for Turkmenistan Afghanistan Pakistan-India (TAPI) Gas Pipeline Project.

At the meeting, ECC will also discuss the deferment of Quarterly, Monthly fuel adjustments and Economic Stimulus measures.

Apart from this, the following important agenda points will be discussed in tomorrow’s meeting.

• 1122 MW Kohala Hydropower Project’s Foreign exchange loss/gain of over 7% on delayed payments.

• Revision of Relending Policy 2016 of Foreign Loans/Credit.

• Recovery of Foreign Currency Loans from the private sector borrowers; Galadari Cement Private Limited.

• Release of advance funds for the construction of Frontier Constabulary Training Centre, KPK.

• Approval of Technical Supplementary Grant (TSG) amounting to Rs 5 million within sanctioned budget for the purchase of Spares Parts for Helicopter maintenance by HQs Pakistan Rangers during CFY2019-20

• Technical Supplementary Grant of Rs 90.450 million to Pakistan Nuclear Regulatory Authority.

• Payment of Subsidy charges to the Executive Agencies of the Prime Minister’s Youth Business Loan Scheme through Technical Supplementary Grant.

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