ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has approved funds to clear the due on media campaigns initiated to create awareness among the public during COVID-19 pandemic.
The committee meeting chaired by Finance Minister Dr. Abdul Hafeez Shaikh approved technical supplementary grants worth over Rs190 million rupees for various projects.
It approved Rs141.308 million rupees to Ministry of Information and Broadcasting for an expenditure incurred on media campaigns to create awareness among the public during COVID-19 pandemic. It also approved Rs9.025 million for a media campaign on the occasion of Kashmir Solidarity Day on February 5, 2021.
It also approved Rs5 million for Pakistan Rangers Punjab and Rs 25 million for Frontier Corps Balochistan (South) for purchase of spare parts for helicopter maintenance, and Rs 10 million for repair and maintenance of helicopter Frontier Corps KP (South) D.I. Khan.
The committee approved the renewal of gas supply agreement between Sui Southern Gas Company Limited (SSGCL) and Fauji Fertilizer Bin Qasim Limited (FFBQL) with a condition that the renewal would be allowed on “as and when available basis” for a period of five years.
The SSGCL may restore the gas supplies to Fauji Fertilizer till December, 2021 or until a uniform rate for the whole fertilizer sector is formulated after the rationalization of tariffs.
On the recommendation of the Ministry of Housing and Works, the ECC allowed the ministry to utilize its own funds of Rs 377.21 million for the renewal of lease for Garden West (Pakistan Quarters), Karachi.
The committee also approved another summary by the Petroleum Division for re-allocation of gas from Saqib-1A Well located in Ghotki district, Sindh to Sui Southern Gas Company Limited from its previous allocation to the SNGPL (as approved earlier by the ECC on October 6, 2009). The price of gas would be as per the applicable Petroleum policy.
The Petroleum Division also moved a summary for the removal of dividend distribution cap on Mari Gas Company Limited (MPCL) under Gas Pricing Agreement as the company was being considered for privatization.
After due deliberation, the ECC allowed that the dividend distribution cap might be removed to ensure that the divestment transaction generates optimum sale proceeds for the government.
The committee decided that the MPCL would ensure dividend distribution in accordance with the provisions of Companies Act, 2017 and the Companies (Distribution of Dividends) Regulations, 2017.
