ISLAMABAD, Pakistan: The Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Wednesday presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet in Islamabad.
The Federal Minister for Commerce Syed Naveed Qamar, the Federal Minister for Power Khuram Dastagir Khan, the Federal Minister for Industries and Production Syed Murtaza Mahmud, theMNA/Ex-PM Shahid Khaqan Abbasi, the Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, the Minister of State for Petroleum Musadik Masood Malik, the Prime Minister’s Special Assistant on Finance Tariq Bajwa, Federal Secretaries and other Senior Officers attended the meeting.
Meeting of the Economic Coordination Committee (ECC) of the Cabinet chaired by Finance Minister Senator Mohammad Ishaq Dar,today approved financial proposals of Cabinet Div & MoI&P.The ECC also approved framework Agreement b/w PLL & SOCAR on G2G basis for supply of LNG Cargos. pic.twitter.com/WqfAS5FoVn
— Ministry of Finance (@FinMinistryPak) June 14, 2023
The ECC considered a Summary of Ministry of Energy (Petroleum Division) regarding the Framework Agreement between Pakistan LNG Limited (PLL) and State Oil Company of Azerbaijan Republic (SOCAR).
In this regard, the ECC after detailed discussion allowed PLL to execute the proposed framework agreement with SOCAR Trading.
The ECC directed Ministry of Petroleum to determine our need of LNG at least three months in advance on a rolling basis.
The ECC approved Rs 404.769 million as TSG in favor of Cabinet Division for various requirements of 6 Aviation Squadron.
The ECC also discussed and approved Rs 157.734 million additional funds in favor of Ministry of Industries and Production for the payment of Employees’ salaries of Heavy Electrical Complex (HEC), markup to Bank of Khyber, and operating/ running expenses, subject to reconciliation of figures from Finance Division.
It further directed the Privatization Commission to complete the privatisation process of HEC by June 30, 2023.
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