Islamabad: The Economic Coordination Committee (ECC) of the federal cabinet on Monday (March 07) announced a PKR 303 billion subsidy budget to support public relief measures, news sources reported. The budget will be spent on three major schemes: electricity price relief, partial payments to the oil industry and debt servicing of Naya Pakistan Certificates. Reportedly, the ECC meeting was chaired by the minister of finance Shaukat Tarin took the following decision:
PKR 8.28 billion Ramzan Package for 19 kitchen utilities
PKR 136 billion was approved for PKR 5 per unit relief in electricity rates for the next four months (March to June). The relief will be extended to all domestic users with monthly use of up to 700 units
PKR 20 billion was approved for the first-month instalment of price differential claims to the oil industry, as Prime Minister Imran Khan announced last week.
PKR 3 billion for the Kamyab Overseas Programme (KOP) for overseas low-income youth. The loan will be made available to low-income youth to cover international travel costs of up to PKR 300,000, repayable after three months of travel
The ECC also authorised amending the various Petroleum Concession Agreements to allow GHPL to expand its active interest in the Wali, Jandran West, Saruna, and Pesu blocks of OGDCL statutory share of 2.5% as a state participant
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
