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Thursday June 20, 2024

ECC okays Rs10bn for project dealing with ‘cyber threats’

Federal Minister for Finance, Revenue and Economic Affairs presided over a meeting of ECC of Cabinet Wednesday

By Our Correspondent
February 08, 2024
The Federal Minister for Finance, Revenue and Economic Affairs, Dr. Shamshad Akhtar, presides over a meeting of ECC of the Cabinet on February 7, 2024. — X/@Financegovpk
The Federal Minister for Finance, Revenue and Economic Affairs, Dr. Shamshad Akhtar, presides over a meeting of ECC of the Cabinet on February 7, 2024. — X/@Financegovpk

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has granted approval of Rs10 billion for providing requisite technical capabilities to identify potential cyber threats on the national critical information infrastructure besides preventing cyber security breaches.

The Federal Minister for Finance, Revenue and Economic Affairs, Dr. Shamshad Akhtar, presided over a meeting of ECC of the Cabinet on Wednesday.

The ECC considered and approved a proposal of the Ministry of Information Technology and Telecommunication regarding the “Allocation of Rs10 billion through Technical Supplementary Grant during CFY for the Digital Information Infrastructure Initiative.” The funds will be utilized to provide requisite technical capabilities to proactively identify potential cyber threats on the national critical information infrastructure besides preventing cyber security breaches.

The ECC also considered the proposal of Petroleum Division regarding “Re-grant of Sui Development and Production Lease”. The provincial government of Balochistan indicated its endorsement of the proposal, following which the ECC approved the summary.

A summary of the Ministry of Maritime Affairs regarding “Revised Fee of Issuance of Certificate of Quality and Origin and other certificates for fish and fishery products under Pakistan Fish Inspection and Quality Control Rules, 1998” was also approved with the directions to the Ministry of Finance and Ministry of Maritime Affairs to explore further avenues of investment.

The Ministry of National Food Security and Research presented a summary on the “Extension of Farm Mechanization Scheme of Kissan Package” to the forum, which was approved after a detailed discussion. A summary of the Ministry of Energy (Petroleum Division) regarding “Amendment in the decision of ECC of the Cabinet regarding Urea Fertilizer Requirement for Rabi Season 2023-24” was discussed in the committee. The forum approved the proposal, which did not involve any subsidy implications.

Another summary of the Ministry of Energy regarding “Deed of settlement Pursuant to the Pakistan Oil Refining Policy 2023 for upgradation of Existing/Brownfield Refineries” was also considered. The ECC noted that the settlement proposal suggested by the Finance Division was appropriate and the Petroleum Division may offer the same to the private party.

Three summaries of Petroleum Division regarding “Supply of Gas/RLNG to Fatimafert and Agritech to meet requirement of Urea”, “Allocation of Gas from M/s United Energy Pakistan’s Mohar Field to SSGCL” and “Allocation of Condensate to Attock Refinery Limited and its Freight Charges Adjustment through Inter Freight Equalization Mechanism” were also approved after detailed deliberations by the forum.