Islamabad: The ECC – Economic Coordination Committee of the federal cabinet declared an Rs.303 billion subsidy funding to help public relief standards. The budget will be expended on three significant assignments: electricity price relief, partial prices to the oil enterprise, and debt servicing of Naya Pakistan Certificates. The ECC conference was chaired by the minister of finance Shaukat Tarin who carried the following conclusion:
- PKR 8.28 billion Ramzan Package for 19 kitchen utilities.
- PKR 136 billion is sanctioned for Rs.5 per unit ease in electricity prices for the next four months (Probably March to June). The relief will be spread to all domestic users with monthly use of up to 700 units.
- PKR 20 billion is sanctioned for the first-month installment of cost differential shares to the oil industry, as Prime Minister Imran Khan revealed the previous week.
- PKR 135.078 billion is sanctioned for debt servicing of Naya Pakistan Certificates and Islamic Naya Pakistan Certificates.
- About 3 billion for the Kamyab Overseas Programme – KOP for overseas low-income youth. The loan will be made known to low-income youth to conceal international travel expenses of up to PKR 300,000, repayable after three months of travel.
The ECC also approved amending the different Petroleum Concession Agreements to permit GHPL to grow its operational interest in the Wali, Jandran West, Saruna, and Pesu blocks of OGDCL statutory share of 2.5% as a state participant.