ECC to discuss release of Rs70bn advance subsidy to K-Electric

MG News | May 07, 2024 at 10:36 AM GMT+05:00

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May 07, 2024 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, in its meeting which is scheduled to be held on May 07, 2024, at 1,500 hours, will discuss the release of Rs70 billion advance subsidy in respect of K-Electric Limited (PSX: KEL).

The Technical Supplementary Grant (TSG) amounting to Rs2.5 billion in favor of the Ministry of Energy (Power Division) under development expenditure during the current financial year (2023-24) will also be reviewed.

The agenda of the meeting further includes the release of Rs55bn in respect of AJK-TDS Arrears, a summary to be presented by the power division.

ECC would also deliberate on the increase in the Wheat Procurement Target-2024 for PASSCO from 1.4 to 1.8 MMT.

The Finance Ministry would also table two crucial summaries, one on the grant of a special relief package for daily wage workers on the Chaman border, and the other on rupee cover for the World Bank-funded Financial Inclusion and Infrastructure Project through TSG.

The committee would also discuss the urea fertilizer requirement and measures to meet that requirement for Kharif 2024.

Discussions would also include the disbursement of salaries for Pakistan Steel Mills (PSM) employees from January 2024 to June 2024 for the financial year 2023-24 (projected).

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