ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, in its meeting on Wednesday, approved the settlement of payables to Government-Owned Power Plants (GPPs) on par with Independent Power Producers (IPPs) with the release of 262.075 billion rupees to public sector power plants through Technical Supplementary Grant (TSG).
The ECC also agreed to release an amount of 57 billion rupees as an advance subsidy in respect of K-Electric arrears.
Another important agenda of the meeting was the review of the Export Finance Scheme by the State Bank of Pakistan under the International Monetary Fund (IMF) Standby Arrangement.
The committee’s decision was to accord approval to the Export Finance Scheme.
ECC’s Other Decisions
The committee also authorized the disbursements of additional funds worth 25 billion rupees to the Intelligence Bureau (IB) during the current fiscal year 2023-2024.
Moreover, the meeting also led to the determination of the support price for wheat (2023-24) and the minimum indicative prices for the tobacco crop (2023).
It is to be noted that ECC has delayed the approval of the TAPI project, a summary that was presented by the Petroleum Ministry.
