Islamabad August 8 2023: The Economic Coordination Committee (ECC) on Monday approved six incentives schemes of the State Bank of Pakistan in order to improve the inflow of remittances.
The summary in this regard was forwarded by the Finance Division regarding revision in Home Remittance Incentive Schemes. The approved proposal pertained to changes in the contours of six incentives schemes of the State Bank of Pakistan in order to improve the inflow of remittances, and to get optimal remittance inflow through formal channels.
ECC meeting chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar.
ECC also approved proposed amendments in the Transmission Line Policy 2015 (the TL Policy 2015) for inclusion of ancillary services projects in its scope.
The ECC also considered a summary of Ministry of Energy regarding a contract with TAVNIR Iran for the purchase of 104MW electricity. It approved the amendments in the contract with TAVANIR related to extension of Tariff for existing supply of 104MW (Jackigur-Mand) from 1st January 2022 to 31st December 2024, negotiating tariff for additional supply (Polan-Gabd) and tariff agreed for additional supply of 100MW through Polan-Gabd Transmission Line from 16th March 2023 to 31st December 2024.
It approved another summary of the Energy Ministry regarding application of uniform tariff for KE consumers by way of tariff rationalization. The adjustments under the tariff rationalization would be applicable on the consumption of April, May, and June 2023 to be recovered from consumers in three months (July, August, and September 2023), respectively.
The Committee considered the comprehensive report on damaged wheat of PASSCO due to rainfall and floods 2022 presented by Ministry of National Food Security & Research.
The summary of Ministry of Industries and Production regarding continuation of Prime Minister’s Relief Package of five essential items on subsidized rates through Utility Stores Corporation (USC) for FY 2023-24 for 10 months from 1st August, 2023 to 30th June, 2024 (excluding month of Ramzan) was also approved by the ECC, with the direction that there should be no increase in the price of Atta.
The ECC approved technical supplementary grants of Rs 3,000 million in favour of the Ministry of Information & Broadcasting for the Prime Minister’s Health Insurance Scheme for Media Workers, Journalists and Artists and Provisions of Film Finance Fund to MOIB; and Rs 500 million in favour of the Ministry of Defence for Defence Services for security related requirements of JSHQ, during FY 2023-24.
Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Information and Broadcasting Maryam Aurangzeb, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Minister of State for Petroleum Musadik Masood Malik, PM’s special assistants Tariq Bajwa and Tariq Mehmood Pasha, Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, federal secretaries and other senior officers attended the meeting, a Finance Ministry press release said.
