Islamabad:
The Economic Coordination Committee (ECC) approved on Tuesday RS3 billion emergency financing to the flooding region of Gilgit-Baltistan (GB).
The meeting, led by Finance Minister Muhammad Aurangzeb, was attended by Energy Minister Sardar Awais Leghari, Petroleum Minister Ali Pervaiz Malik, and Food Safety Minister Rana Tanveer Hussain, according to a statement from the Ministry of Finance.
RS3 billion relief package was submitted by the Ministry of Kashmir affairs and GB in line with Prime Minister Shehbaz Sharif’s directives during his recent visit to flooding areas.
Read more: Over 406 life lost in KP floods since August 15
“The package will ensure timely delivery of tents, food, medicine and help rebuild damaged infrastructure in the affected areas,” the official statement said. The relief also ensures immediate measures for societies that are still struggling with the wake of the natural disaster.
In another major decision, the ECC approved the release of RS3,813 billion, out of RS11 billion, requested Pakistan Television Corporation (PTV). The amount will be used to pay wages, pensions and cover the main operating costs. The remaining funds are expected to be released quarterly.
However, the committee advised the state’s TV company to move towards self-support and minimize the dependence on grants. “PTV must work to reduce its dependence on the federal budget and map a path to self -sufficiency,” ECC said.
The committee also addressed a long-term question in the energy sector-utility petroleum fees from CNERGYICO PK LIMITED (CPL), dating back to 2019.
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A settlement framework was approved to recover the main amount and the Petroleum Division was authorized to sign a settlement act with the company. “The full amount is restored according to the agreed conditions,” the Ministry of Finance remarked.
Meanwhile, the Power Division’s proposal to provide relief to electricity users by passing on the benefits, collected under the trapped transmission tax, was also approved.
In a step to quickly track a central strategic energy project, the ECC gave the gap to revised customs conditions for Machike-Thallian-Tarrujabba White Oil Pipeline.
The project is developed in partnership with Azerbaijan and is expected to strengthen bilateral trade and energy bands. ECC approved the proposed terms and conditions needed to facilitate the launch of the project.
