ECC meeting to be held in Islamabad today, gas tariff matter under agenda

Economic Coordination Committee (ECC) meeting to take place in the federal capital today, its expected to take up approval of up to 15 per cent increase in gas tariff.

As per details,  Adviser to PM on Finance Dr Abdul Hafeez Shaikh will preside over the meeting.

The meeting also consider the establishment of a trust fund to implement risk sharing facility under a $10 million World Bank loan.

The meeting to get comprehensive presentation on the Cotton policy.

The ECC in its last meeting had decided to import 300,000 tons of wheat,

While the fresh crop from Sindh will reach to the markets by March 15.

The ECC informed in the meeting that the first shipment of wheat likely to arrive in the country by 15th of February.

ECC had also asked Punjab and PASSCO to release their stocks to overcome the shortage in the country and stabilize the prices.

Further, The committee will consider the approval of about Rs 180m worth of technical supplementary grants.

It will also take up a presentation on Comprehensive Policy for Enhancement of Cotton Production in the Country.

Under another summary moved by the Ministry of Finance, the ECC likely to direct the SBP to sell its shares in the HBFC.

The sale price of gas for the Liberty Power supplied by the SNGPL and for the Uch Power supplied by the Oil and Gas Development Company Ltd will be determined in accordance with already-approved pricing formula/mechanism.