Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet, today.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet, today.

Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Mr. Khuram Dastagir Khan, Federal Minister for Industries and Production Syed Murtaza Mahmud, Mr. Shahid Khaqan Abbasi MNA/Ex-PM, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Mr. Musadik Masood Malik, SAPM on Finance Mr. Tariq Bajwa, Federal Secretaries and other senior officers attended the meeting.

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 30th June, 2023.