Discontinuation of power subsidy: ECC decides to constitute body for industrial sector

The Economic Coordination Committee (ECC) of the Cabinet has decided to constitute a committee on discontinuation of power subsidy for industrial sector and payment of industrial subsidy package claims.
A meeting of the ECC presided over by Prime Minister Shahid Khaqan Abbasi was also said to have convened the first meeting of the panel today (Friday). The meeting chaired by the Prime Minister will analyze impacts and sustainability of the package. The ECC also decided to allow Sui Southern Gas Company Limited (SSGCL) to reallocate Rs14.8 billion from RLNG-II pipeline project to LPG air mix projects for their speedy completion and to ensure uninterrupted supply of gas to household consumers and industry etc.
The ECC also directed the SSGCL to expand setting up of air mix plants in every district of the country. The meeting also approved a proposal for grant of four years extension in Kandra Development and Production Lease.
The decision was taken after taking into account various impediments, which have hindered the production of recoverable reserves from Kandra gas field and setting up of 120MW power plant by M/s Kandra Power Company Ltd (a subsidiary of M/s Pakistan Exploration (Pvt) Ltd).
On a proposal of Ministry of Industries and Production, seeking approval of one-time grant to Pakistan Machine Tool Factory (PMTF) for payment of dues owed to its retired employees, the ECC approved a grant of Rs300 million as the first installment.