Islamabad:
The Economic Coordination Committee (ECC) approved on Tuesday an emergency funding for RS3 billion for the region struck by the Gilgit-Baltistan floods (GB).
The meeting, chaired by the Minister of Finance, Muhammad Aurangzeb, brought together the Minister of Energy Sardar Awais Leghari, the Minister of Petroleum Ali Pervaiz Malik and the Minister of Food Security Rana Tanveer Hussain, according to a statement published by the Ministry of Finance.
The RS3 billion rescue plan was submitted by the Ministry of Cashmere and GB affairs in accordance with the directives of Prime Minister Shehbaz Sharif during his recent visit to the areas affected by the floods.
Learn more: More than 406 lives lost in KP floods since August 15
“The package will guarantee a timely supply of tents, food, drugs and will help rebuild damaged infrastructure in affected areas,” the statement said. The relief also guarantees immediate measures for communities which are still struggling with the consequences of the natural disaster.
In another major decision, the ECC approved the release of RS3,813 billion, on billions of rupees, asked Pakistan Television Corporation (PTV). The amount will be used to pay salaries, pensions and cover key operational costs. The remaining funds should be published on a quarterly basis.
However, the Committee advised the state broadcaster to head for self-durability and to minimize dependence on subsidies. “The PTV must work to reduce its dependence on the federal budget and to trace a path to self -sufficiency,” said the ECC.
The Committee also addressed a long -standing problem in the energy sector – unpaid oil directors in Cnergyico PK Limited (CPL) dating from 2019.
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A regulation framework has been approved to recover the main amount and the oil division was authorized to sign an act of settlement with the company. “The total amount will be recovered in accordance with the agreed conditions,” noted the Ministry of Finance.
Meanwhile, the proposal for the energy division to relieve electricity users by transmitting the advantages, collected under the captive transmission tax, was also approved.
In a movement to accelerate a key strategic energy project, the ECC gave the green light to revised tariff terms for Machike-Thallian-Tarrujabba white oil oil.
The project is developed in partnership with Azerbaijan and should strengthen bilateral trade and energy relations. The ECC approved the proposed terms and conditions necessary to facilitate the launch of the project.
