ECC to review proposal on urea subsidy

December 28, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet is scheduled to meet today at 03:00pm to discuss the summary from the Ministry of Commerce regarding the sharing of subsidy on imported urea at 50:50 basis technical supplementary grant.

The committee will also deliberate on the approval of the revised estimates for FY 2021-22 and budget estimates for FY 2022-23, as well as the revised estimates for 2022-23 and budget estimates for FY 2023-24 of the Employees' Old Age Institution (EOBI).

Furthermore, the committee will review the summary regarding the approval of TAPI project as qualified investment and investment incentives package under the Foreign Investment (Promotion and Protection) Act, 2022 (FIPPA).

Another agenda of the meeting is to discuss the amendment in the decision of the ECC of the cabinet regarding urea fertilizer requirement for rabi season 2023-24.

Additionally, the meeting will discuss the approval of the principles for settlement of capacity deduction issues of imported coal based projects and subsequent execution of side agreement with Port Qasim Electric Power Company.

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