The Economic Coordination Committee (ECC) of the Cabinet on Wednesday cleared the provision of Rs. 8.39 billion in favor of Benazir Income Support Program (BISP) for cash subsidy to farmers of the flood affected areas.
Federal Minister for Finance and Revenue, Senator Ishaq Dar, chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet.
Finance Minister Senator Mohammad Ishaq Dar presided over the meeting of the ECC and approved a number of financial proposals including cash subsidy to farmers of flood affected area, financial aid to the families of the deceased and pre-shipment inspection of imported wheat. pic.twitter.com/ZkKAPlpkGX— Ministry of Finance (@FinMinistryPak) January 25, 2023
The ECC considered a summary of the Ministry of Poverty Alleviation and Social Security regarding wheat seed subsidy (Rabi 2022-23) and allowed the provision of Rs. 8.39 billion through Technical Supplementary Grants (TSG) in favor of BISP for cash subsidy to farmers of flood affected areas in lieu of providing wheat seeds.
The committee directed BISP to start disbursement of cash through the partner bank as per the eligibility criteria and the amount to be disbursed to each eligible person identified by the Government of Sindh
Adam X-1 development and production lease
The ECC considered a brief of the Ministry of Energy (Department of Petroleum) and granted an extension to the Adam X-1 development and production lease for a period of five years w.e.f. 10-02-2022 in order to increase domestic production of oil and natural gas and reduce the burden of imported energy.
The Adam X-1 Development and Production lease was granted for a period of seven years w.e.f. 10-02-2015, with an area of 19.42 sq.km and located in Sanghar area. The field still has potential for further commercial production.
Extensive well testing via Umair SE-1 Discovery
The meeting considered another brief of the Ministry of Energy (Department of Petroleum) and authorized one year Extended Well Testing (EWT) at Umair SE-1 Discovery Guddu (E.L) w.e.f. start of production under the EWT agreements.
It was informed that exploration license (EL) was granted in Guddu Block in 1999, operated by M/s OGDCL. Based on the results of seismic data, OGDCL made a new discovery in Guddu EL from Habib Rahi Limestone and Pirkoh Limestone by drilling one well namely Umair S.E-1.
Increase in the price of the drug
The ECC also considered a brief of the Ministry of National Health Services, Regulations and Coordination and approved an increase in the maximum retail prices (MRP) of a drug as per the recommendation of the Drug Pricing Committee.
Pre-shipment inspection of imported wheat
The ECC approved an outline submitted by the Ministry of Commerce and authorized TCP to conduct pre-shipment inspection of imported wheat at ports of loading by the already authorized six international Pre-Shipment Inspection Agencies (PSIA) to ensure the quality of imported wheat according to approved specifications. He was informed that a number of wheat shipments are expected in the coming months.
Financial support for heirs of a deceased person
The CEC also considered and approved two Home Office summaries regarding the grant of financial assistance of Rs. 10 million to the legal heirs of the deceased who lost their lives in the recent suicide blast in Islamabad and Rs. 20 million for the legal heirs of the deceased who died during the recent long-hour political party march.
Financial viability of PCCC
The ECC discussed a brief of Ministry of National Food Security & Research (MNFS&R) on TSG officials of Pakistan Central Cotton Commission (PCCC) and formed a committee comprising secretaries of MNFS&R and Commerce headed by SAPM on Government Efficiency Dr. Muhammad Jehanzeb to assess the viable options for the financial viability of PCCC and submit a report in 15 days.
The ECC also approved the following Technical Supplementary/Supplementary Grants:
- Rs. 844.389 million in favor of the Ministry of Housing and Works for the repair and maintenance of the Supreme Court of Pakistan building, judges’ residences, guest houses and sub-offices in various cities.
- Rs. 3 billion to the Cabinet for development expenditure under the SDG Achievement Program (SAP).
- Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir, Federal Minister for Planning Ahsan Iqbal, Federal Minister for Industries and Production Syed Murtaza Mahmud, Minister for Finance and Revenue Dr. Aisha Ghous Pasha, Former Prime Minister Shahid Khaqan Abbasi, SAPM for Finance Tariq Bajwa, SAPM for Revenue Tariq Pasha, SAPM for Government Efficiency Dr. Muhammad Jehanzeb Khan, Coordinator of Prime Minister Commerce and Industry Rana Ihsan Afzal, federal secretaries and other senior officers attended the meeting.