ECC to deliberate on the momentous release of an astonishing Rs70 billion advance subsidy to K-Electric, signaling a monumental stride in power sector support and financial injection.
On May 7, 2024, the Economic Coordination Committee (ECC) of the Cabinet is set to convene at 1,500 hours to address the matter of releasing a Rs70 billion advance subsidy for K-Electric Limited (PSX: KEL).
Additionally, the committee will examine a Technical Supplementary Grant (TSG) of Rs2.5 billion allocated to the Ministry of Energy (Power Division) for development expenditure during the current fiscal year (2023-24).
Another item on the agenda is the disbursement of Rs55 billion pertaining to AJK-TDS Arrears, with a summary to be presented by the power division.
The ECC will also discuss raising the Wheat Procurement Target-2024 for PASSCO from 1.4 to 1.8 MMT.
Moreover, the Finance Ministry will present two significant summaries: one regarding the provision of a special relief package for daily wage workers at the Chaman border, and the other concerning rupee cover for the World Bank-funded Financial Inclusion and Infrastructure Project via TSG.
The committee will also address the urea fertilizer demand and strategies to fulfill it for the Kharif season of 2024.
Additionally, talks will cover the distribution of salaries for Pakistan Steel Mills (PSM) employees from January 2024 to June 2024 for the projected financial year of 2023-24.
