ECC okays fund release for SSGC for gas supply to PSM

MG News | November 16, 2022 at 11:44 AM GMT+05:00

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November 16, 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet in its meeting on Tuesday approved to release of funds for Sui Southern Gas Company (SSGC) for gas supply to Pakistan Steel Mills (PSM), the statement issued by Finance Division read.

In the meeting, it was shared that the production of PSM has been at a halt since 2015 and low flame gas of 2 million cubic feet per day (MMCFD) is being supplied to PSM primarily to preserve the Coke Oven Batteries and refractory kilns.

Moreover, ECC after deliberation approved Rs1.26 billion for 16 months of gas bills from the already approved budgetary allocation of Rs10bn to PSM for FY 2022-23 and releasing of an amount Rs298mn for the period from March to June 2022.

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