• Federal Minister for Finance and Income Shaukat Tarin presided over the ECC assembly as we speak.
• ECC defers two summaries submitted by Power Division.
• ECC approves Textiles and Attire Coverage, 2020-25.

The Financial Coordination Committee (ECC) on Wednesday determined to defer Power Division’s two summaries associated to the settlement of payables to government-owned power plants and the reinstatement of taxes on dividends for buyers and shareholders of impartial power producers (IPPs).

In accordance to a press release issued by the Power Division, Federal Minister for Finance and Income Shaukat Tarin presided over the ECC assembly as we speak.

Federal Minister for Nationwide Meals Safety and Analysis Syed Fakhar Imam, Federal Minister for Power Hammad Azhar, Federal Minister for Privatisation Muhammed Mian Soomro, Adviser to the Prime Minister on Commerce and Funding Abdul Razak Dawood, federal secretaries and senior officers attended the assembly.

The Ministry of Commerce submitted revised the Textiles and Attire Coverage, 2020-25 after incorporating just a few adjustments together with the implementation report. The ECC, after deliberation, authorized the coverage with sure amendments.

The ECC mentioned intimately and authorized the summary submitted by the Ministry of Communication for the issuance of sovereign assure or SBLC value Rs6,944.0 million in opposition to Operational Viability Hole Funding (VGF) for the development of the Sialkot (Sambrial) – Kharian Motorway venture on a BOT foundation.

Ministry of Power, Petroleum Division submitted a summary on 15 years’ extension of the lease contract between Saindak Metals Restricted and MCC China for the Saindak Copper-Gold Undertaking. The ECC, after an in depth dialogue, allowed the extension of the lease contract and advisable reviewing the monetary side of the venture yearly by skilled experience.

The ECC additionally authorized the Ministry of Power, Petroleum Division’s summary on the dedication of RLNG sale worth for PLL’s provide to Okay-Electrical (KE).

On one other summary of Ministry of Power, Petroleum Division, for revision of gasoline worth of Mazarani Gasoline subject held by M/s PPL and GHPL, the ECC authorized the proposal of revision of gasoline worth relevant to Mazarani Gasoline Area from US$ 1.75/MMBTU to US$ 3.75MMBTU from September 1, 2021.

The ECC additionally thought of and authorized technical supplementary grants submitted by totally different ministries and divisions.