The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved a supplementary grant of Rs. 20 billion for parliamentarians for the Sustainable Development Goals Achievement Program (SAP).
Federal Minister for Finance and Revenue Ishaq Dar chaired the meeting of the ECC of the Cabinet, today.
Ministry of Industries and Production submitted a summary of Urea Fertilizer requirements for the year 2023 and briefed on the urea fertilizer situation in the country.
The ECC after detailed discussion allowed SNGPL-based fertilizer plants i-e Fatima Fertilizer (Sheikhupura) and Agritech to operate beyond May 31st, 2023 till August 31st, 2023 on indigenous gas with no subsidy requirement from the Federal Government.
Ministry of Climate Change and Environmental Coordination submitted a summary on the participation of Sindh’s Mangroves projects in voluntary Carbon Markets and presented that Sindh Forest Department is implementing two Indus Delta Mangrove projects viz Delta Blue Carbon-I(DBC-I) and Delta Blue Carbon-II (DBC-II) to generate Carbon Credits and trade with international entities on Voluntary Carbon Market(VCM).
The ECC after discussion approved the proposal of the Ministry that the DBC-I and DBC-II projects as these were initiated prior to the commitment made under NDCs in 2021. These projects are expected to generate about US$ 200 to 220 million by 2043 with additional benefits of creating green jobs.
The ECC considered a summary of the Ministry of Energy (Power Division) on payment mechanisms and agreements with M/s Uch Power (Pvt) Limited. After detailed discussion, the ECC approved the proposals of the Ministry for a Novation Agreement, Master Agreement, and PPA Amendment that would result in savings of Rs. 33 billion over a period of seven years.
The ECC considered and approved Rs. 2.5 million technical supplementary grant (TSG) in favour of the Ministry of Climate Change and Environment Coordination to meet its expenditures.
The apex committee okayed another TSG of Rs. 263.988 million in favour of the office of Controller General of Accounts (CGA) for the implementation of online billing solutions for Federal and Provincial Accountant Generals.
After discussions, it authorized a grant of Rs. 497.261 million in favour of the Ministry of Housing and Works for the execution of the development scheme titled “Construction of Railway underpass Gojra, district Toba Tek Singh”.
The ECC also considered and approved the following TSGs:
Rs. 420 million in favour of the Ministry of Information and Broadcasting to meet its budgetary shortfall for Information Services abroad.
Rs. 10,746.216 million in favour of the Federal Directorate of Immunization (FDI) to procure vaccines and syringes for uninterrupted supply to the provinces.
Rs. 20 billion in favour of the Cabinet Division for Sustainable Development Goals Achievement Program (SAP).
Rs. 25 million in favour of the President’s Secretariat for ERE expenditures.
Rs. 208 million in favour of the Intelligence Bureau to meet its Employee Related Expenses.
Rs. 4,000 million in favour of the Ministry of Defence to meet its expenditures. Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Syed Murtaza Mahmud, Federal Minister for Climate Change Senator Sherry Rehman, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Coordinator to the PM on Economy Bilal Azhar Kayani, Coordinator to PM on Commerce and Industry Rana Ihsan Afzal Federal Secretaries and other senior officers attended the meeting.
Source: Pro Pakistani