The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Senator Muhammad Aurangzeb on Tuesday, approved a series of major decisions aimed at providing economic relief, supporting national projects, and strengthening financial discipline.
Captive Power Levy Passed to Consumers
The ECC approved a mechanism to transfer the benefit of the levy collected from captive power producers to the national grid’s electricity consumers. This move is expected to provide direct relief to households and businesses already burdened by high electricity costs.
The meeting was attended by federal ministers for power, petroleum, national food security, the special assistant to the prime minister on industries, and other senior officials.
Supplementary Grant for PTV
The ECC also approved a supplementary grant of Rs. 3.813 billion for Pakistan Television Corporation (PTV) to cover expenses related to tariff adjustment, net metering, salaries, pensions, and operational costs.
Out of the total Rs. 11 billion requested, the remaining amount will be released on a quarterly basis. While approving the allocation, the committee emphasized the need for PTV to reduce reliance on government bailouts and move towards financial self-sufficiency.
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Petroleum Levy Recovery from Cnergyico
A settlement framework prepared by the Petroleum Division was also approved for the recovery of petroleum levy defaulted by Cnergyico PK Limited (CPL) since 2019.
Aligned with Special Investment Facilitation Council (SIFC) decisions, the framework mandates recovery of the principal amount audited to date. The Petroleum Division has been authorized to sign a deed of settlement with CPL, ensuring strict compliance and full recovery under agreed terms.
White Oil Pipeline Project with Azerbaijan
The ECC further endorsed tariff terms for the Machike-Thallian Tarrujabba White Oil Pipeline project, which is being developed on a government-to-government basis with Azerbaijan.
The approval is expected to facilitate the strategic energy project while also strengthening bilateral trade and investment relations between the two countries.
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Flood Relief Package for Gilgit-Baltistan
In line with Prime Minister Shehbaz Sharif’s directives during his visit to flood-affected areas of Gilgit-Baltistan, the ECC sanctioned Rs. 3 billion for emergency relief and rehabilitation.
The funds will be used for tents, medicines, food supplies, and reconstruction of damaged infrastructure to ensure timely recovery and support for affected communities.
