ISLAMABAD: Adviser to PM on Finance Dr. Abdul Hafeez Shaikh is scheduled to chair an Economic Coordination Committee (ECC) meeting in the federal capital today.
During the meeting, the cabinet would approve a coronavirus relief patch. The government has allocated Rs 100 billion for the export sector and industries whereas Rs 144 billion has been earmarked for Rs. 10,200,000 families.
100 billion for agriculture and SMEs and 200 billion for wheat procurement, 50 billion for utility stores, Rs 70 billion for petroleum products. Rs 110 billion has been earmarked for relief in electricity and gas bills.
Earlier this month, the ECC approved a proposal by power division for a special relief package to further continue the provision of subsidized 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 the upstream petroleum sector.
The amendments are related to an extension of exploration licenses beyond two years and the creation of a new Zone-1 (F) for the onshore licensing regime and consequent revision in the zonal map.
Read more: ECC decides to impose immediate ban on sugar exports
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