ISLAMABAD: Adviser on Finance Hafeez Sheikh on Wednesday chaired a meeting of the Economic Coordination Committee (ECC) which discussed a four-point agenda.
The ECC approved a proposal by power division for a special relief package to further continue provision of subsidised electricity until June this year to five export-oriented sectors.
The meeting also approved a proposal of the ministry of energy to two amendments aimed at providing ease of doing business to upstream petroleum sector.
The amendments are related to extension of exploration licenses beyond two years and creation of a new Zone-1 (F) for onshore licensing regime and consequent revision in the zonal map.
The ECC also okayed National Telecommunication Corporation’s revised budget estimates for 2018-19 and 2019-20.
The meeting discussed a proposal to increase wheat support price Rs.1400 per forty kilogram. A special session of the committee has been convened tomorrow to discuss a detailed plan to keep the flour prices at the lowest possible level throughout the year in view of any increase in support price.