Govt presents Eid gift to people by keeping petroleum prices intact

ISLAMABAD, June 28 (APP): The Economic Coordination Committee of the Cabinet (ECC) Tuesday approved two-months salaries for the employees of Pakistan Steel Mills in view of Eid-ul-Fitr.

The ECC meeting, chaired by Finance Minister, Senator Mohammad Ishaq Dar, at the outset considered and approved the proposal submitted by Privatization Division for providing two months’ salaries to the employees of Pakistan Steel Mills, said a press statement issued by the ministry.

It added that on a proposal submitted by the Ministry of Water and Power, ECC approved amendments in agreement between CPPA and M/S Rousch, FKPCL and Davis Energen pertaining to revised payment mechanism, aiming to facilitate payments of imported RLNG by IPPs to Gas Suppliers.

ECC on a proposal submitted by Ministry of  Interior, Narcotics Control Division, granted Tax exemption on scanning equipment donated by the Government of Saudi Arabia to Anti-Narcotics Force (ANF) to enhance its capabilities in eradicating narcotics/ drugs.

The Chair directed that in all such cases in future, advance approval for exemptions may be sought by the ministries/divisions concerned.

The Economic Affairs Division was also directed to issue a circular to all the Ministries/Divisions in this regard.

ECC also approved the Draft Implementation Agreement for Imported R-LNG based power projects in the public sector.

After deliberation over the proposal submitted by the Ministry of Water and Power regarding Term Finance Facility for Power Holding (PVT) Limited, the ECC accorded approval to extend repayment period under the facility from 15 months to five years including extension in grace period from 03 months to 24 months, while other terms and conditions would remain the same.