ISLAMABAD:
The Economic Coordination Committee (ECC) on Tuesday approved Rs3 billion emergency funding for the flood-stricken region of Gilgit-Baltistan (G-B).
The meeting, chaired by Finance Minister Muhammad Aurangzeb, was attended by Energy Minister Sardar Awais Leghari, Petroleum Minister Ali Pervaiz Malik, and Food Security Minister Rana Tanveer Hussain, according to a statement issued by the Finance Ministry.
The Rs3 billion relief package was submitted by the Ministry of Kashmir Affairs and G-B in line with Prime Minister Shehbaz Sharif’s directives during his recent visit to flood-hit areas.
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“The package will ensure timely provision of tents, food, medicines, and help rebuild damaged infrastructure in the affected areas,” said the official statement. The relief also ensures immediate measures for communities still grappling with the aftermath of the natural disaster.
In another major decision, the ECC approved the release of Rs3.813 billion, out of the Rs11 billion, requested for Pakistan Television Corporation (PTV). The amount will be used to pay salaries, pensions, and cover key operational costs. The remaining funds are expected to be released on a quarterly basis.
However, the committee advised the state broadcaster to move towards self-sustainability and minimise dependence on grants. “PTV must work towards reducing its dependency on the federal budget and chart a path towards self-sufficiency,” the ECC stated.
The committee also tackled a long-pending issue in the energy sector — unpaid petroleum levies from Cnergyico PK Limited (CPL) dating back to 2019.
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A settlement framework was approved to recover the principal amount, and the Petroleum Division was authorised to sign a deed of settlement with the company. “The full amount will be recovered as per the agreed terms,” the Finance Ministry noted.
Meanwhile, the Power Division’s proposal to provide relief to electricity users by passing on the benefits, collected under the Captive Transmission Levy, was also approved.
In a move to fast-track a key strategic energy project, the ECC gave the go-ahead to revised tariff terms for the Machike-Thallian-Tarrujabba White Oil Pipeline.
The project is being developed in partnership with Azerbaijan and is expected to bolster bilateral trade and energy ties. The ECC approved the proposed terms and conditions necessary to facilitate the project’s launch.