Islamabad:
The Economic Coordination Committee (ECC) on Tuesday approved Emergency Funds for RS3 billion for the Gilgit-Baltistan (GB) region.
The meeting, chaired by the Minister of Finance, Muhammad Aurengzeb, attended the Minister of Energy, Sardar Awais Leghari, the Minister of Petroleum, Ali Pervaiz Malik, and the Minister of Food Security, Far Flow Tanveer Hussain, according to a statement issued by the Ministry of Finance.
The RS3 billion aid package was presented by the Ministry of Cashmir and GB Affairs in line with the directives of Prime Minister Shehbaz Sharif during his recent visit to the areas affected by floods.
Read more: More than 406 lost lives in the floods of KP since August 15
“The package will guarantee the timely provision of tents, food, medicines and help reconstruct the damaged infrastructure in the affected areas,” said the official statement. The relief also guarantees immediate measures for the communities that still deal with the sequelae of the natural disaster.
In another important decision, the ECC approved the release of RS3,813 billion, of the 11 billion RS11, requested the Pakistan television corporation (PTV). The amount will be used to pay wages, pensions and cover key operating costs. The remaining funds are expected to be released quarterly.
However, the Committee advised the state station to advance towards self -sustaining and minimize the dependence of subsidies. “The PTV must work to reduce its dependence on the federal budget and draw a path to self -sufficiency,” ECC said.
The Committee also addressed a long -standing problem in the energy sector: the non -remunerated oil levies of Cnergyico PK Limited (CPL) dating from 2019.
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A liquidation frame was approved to recover the main amount, and the oil division was authorized to sign a liquidation deed with the company. “The total amount will be recovered according to the agreed terms,” said the Ministry of Finance.
Meanwhile, the proposal of the Power division to provide relief to electricity users when transmitting the benefits, collected under the captive transmission tax, was also approved.
In a movement to accelerate a key strategic energy project, the ECC approved the tariff terms reviewed for the White White Machike-Thalian-Tarrujabba pipeline.
The project is developing in association with Azerbaijan and is expected to drive bilateral trade and energy ties. The ECC approved the necessary terms and conditions to facilitate the launch of the project.
