Economic Coordination Committee (ECC) of the Cabinet has approved supplementary grant of 55.48 billion rupees for disbursement of Price Differential Claims (PDCs) to Oil Marketing companies and refineries for the first fortnight of this month.

The approval was given at a meeting of the Committee in Islamabad with Finance Minister Miftah Ismail in the chair.

The price differential will be paid to the Oil Marketing companies and refineries by the government as a subsidy in the wake of its decision to keep the petroleum products' prices fixed at the level notified on 1st March this year.

The ECC allowed Trading Corporation of Pakistan to explore the possibility of import of 200,000 MT of Urea on government to government basis and on deferred payment to create better stock for Urea fertilizer to ensure continuity of Urea supply during next financial year.

Source: Radio Pakistan