ECC unlocks funds to address power sector liquidity
By MG News | May 08, 2024 at 09:40 AM GMT+05:00
May 08, 2024 (MLN): To ease the liquidity requirements of the power sector, the Economic Coordination Committee (ECC) of the Cabinet on Tuesday allowed the Power Division’s request to release budgeted expenditures to clear the arrears of tariff differential subsidy of Rs70 billion for KElectric and Rs55bn for AJK.
The committee reviewed and approved numerous proposals from various ministries and divisions.
In order to increase the wheat procurement target for PASSCO from 1.40 to 1.80 MMT along with the required Cash Credit Limit for the purchase of additional quantity.
The approval would help PASCCO scale up its ongoing wheat procurement drive.
The Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb presided over the meeting.
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