ISLAMABAD: The government on Thursday approved continuation of subsidy on five essential consumer items through Utility Stores Corporation (USC) from January to June.
The decision was taken during a meeting of the Economic Coordination Committee (ECC) of the cabinet presided over by Minister for Finance and Revenue Hafeez Shaikh.
The ECC considered and approved another summary by the Power division regarding implementation, supplemental and power purchase agreements for 300 megawatts of coal power project in Gawadar. The ECC approved allocation of 22 million metric cubic feet per day of gas to the Sui Southern Gas Company from Sujjal-I, Sujawal-X-I and Aqeeq-I wells of Mari Petroleum Company Limited.
The ECC also approved a technical supplementary grant of Rs42 million in favor of national program for enhancing command areas in barani areas surrendered by the ministry of national food security and research.
Ministry of industries and production presented three proposals related to the Utility Stores Corporation (USC) before the ECC. The ECC considered and approved the first proposal regarding continuation of general subsidy on five essential items through USC from January 1 to June 30 out of funds allocated under COVID-19 relief package. Secondly, ministry of industries and production proposed to approve re-allocation of Rs2.3 billion for enterprise resource planning procurement and IT infrastructure for automation of stock management throughout the network of USCs. The ECC approved in principle, with a direction to hold further consultation with the ministry of information technology and ministry of finance for smooth implementation.
Furthermore, it was decided that the USC would present a revised proposal after working out a specific percentage range(s) of differential from market prices for subsidizing essential commodities through ministry of industries and production before next ECC meeting. The percentage range(s) would serve as a benchmark for subsidizing the essential commodities through USC, keeping in view, fluctuations in international commodity prices.
On textiles and apparel policy 2020-25 by the ministry of commerce, the ECC decided to include Special Assistant to the Prime Minister on Power Tabish Gauhar in the sub-committee for detailed consultation on proposals related to the power sector which fall under the ambit of the textile policy, which would be presented before ECC in a couple of weeks.
Petroleum division presented a summary before ECC to review the oil marketing companies and dealers margins on petroleum products. After due deliberation, the ECC decided that proposed rates for the increase would be considered after a detailed study by Pakistan Institute of Development Economics. A sub-committee was constituted.
Secretary Ministry of Religious Affairs and Interfaith Harmony presented the Zaireen management policy before ECC for consideration. The rationale is to regulate, streamline and provide better facilities to Zaireen for performing religious obligations in an organized manner. The ECC approved the establishment of Ziarat Directorate Office at Quetta and Taftan at an estimated expenditure of Rs38.5 million. Moreover, ECC also considered the establishment of Ziarat Directorate Offices at Mashhad (Iran), Karbala and Baghdad (Iraq) and directed Ministry of Religious Affairs to seek formal consent / approval from the host countries through the Ministry of Foreign Affairs.
National Electricity Policy 2021 was placed before ECC by the power division. After detailed discussion, ECC referred the above policy to cabinet committee on energy for consideration with the advice that the policy may be referred back to ECC (with recommendations) if the subject falls in the domain of the ECC. The committee further directed to take all Provinces on board during consultative process.