The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved a mechanism to transfer the benefit of the levy collected from captive power producers to the national grid’s electricity consumers, providing relief to households and businesses.
The meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, was attended by federal ministers for power, petroleum, national food security, the special assistant to the prime minister on industries, and other senior officials.
The ECC also approved a supplementary Grant of Rs. 3.813 billion for Pakistan Television Corporation (PTV) to meet expenses related to tariff adjustment, net metering, salaries, pensions, and operational costs.
The remaining amount from the Rs. 11 billion request will be released on a quarterly basis.
While approving the allocation, the ECC stressed the need for PTV to reduce its reliance on government bailouts and move towards financial self-sufficiency.
Petroleum Levy Recovery from Cnergyico
The ECC also approved a settlement framework prepared by the Petroleum Division for the recovery of the petroleum levy defaulted on by Cnergyico PK Limited (CPL) since 2019. The framework, aligned with decisions of the SIFC, mandates recovery of the principal amount audited to date. The Petroleum Division has been authorized to sign a deed of settlement with CPL, with strict instructions to ensure full recovery under agreed terms.
White Oil Pipeline Project
The Committee further endorsed tariff terms for the Machike-Thallian Tarrujabba White Oil Pipeline project, being developed on a government-to-government basis with Azerbaijan. The approval is expected to facilitate the strategic project and boost bilateral trade and investment ties.
Flood Relief for Gilgit-Baltistan
In line with Prime Minister Shehbaz Sharif’s directives during his recent visit to the flood-affected areas of Gilgit-Baltistan, the ECC sanctioned Rs. 3 billion for emergency relief and rehabilitation. The funds will cover tents, medicines, food supplies, and reconstruction of damaged infrastructure to support early recovery efforts.