ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the allocation of Rs8.109 billion through a technical supplementary grant to the power sector for the execution of development schemes in the provinces –with the highest amount of Rs6.554 billion in Punjab – under “Sustainable Development Goals Achievement Program” (SAP) during the current fiscal year.
The ECC meeting presided over by Finance Minister Ishaq Dar deliberated upon a summary submitted by the Ministry of Energy (Power Division) and stated that the Cabinet Division has surrendered Rs8,109.772 million in favour of the Power Division to obtain a technical supplementary grant (TSG) of equal amount for execution of development schemes in Sindh, Balochistan, Punjab, and Khyber Pakhtunkhwa.
The meeting of the ECC was informed that these funds would be used for the execution of development schemes of Rs355 million in Sindh province, Rs100 million in Balochistan, Rs6.554,772 billion in Punjab, and Rs1.1 billion in Khyber Pakhtunkhwa under “Sustainable Development Goals Achievement Program”(SAP).
The Ministry of Energy added that the Power Division has consulted the Finance Division and the Finance Division has conveyed no objection to the transfer of funds amounting to Rs8109.772 million from the Cabinet Division to the Power Division.
Therefore, the approval of the ECC is solicited for the allocation of funds amounting to Rs8109.772 million against the surrendered amount by the Cabinet Division under the development expenditure of the Power Division during the current fiscal year 2022-23 for the execution of development schemes of the Punjab, Sindh, Balochistan, and Khyber-Pakhtunkhwa provinces under the PSDP being executed by the Ministry of Energy (Power Division).
Copyright Business Recorder, 2022