Staff Reporter Islamabad
The Economic Coordination Committee (ECC) of the Cabinet here on Monday approved continuation of electricity and gas subsidy for export-oriented sectors to support the momentum of growth in ex-ports during the Fiscal Year 2021-22.
The summary regarding continuation of conces-sional rates of electricity and RLNG to export-oriented sectors was presented by Ministry of Commerce while Secretary Commerce briefed the committee that extension of concessional rates of electricity and RLNG was important for sustained increase in exports by providing energy at region-ally competitive rates.
Federal Minister for Finance and Revenue, Shaukat Tarin while presiding over the ECC meeting empha-sized the need to incentivize export-oriented sectors in order to take the exports to the next level. At the same time, the minister stressed the need to rational-ize usage of energy inputs.
For this purpose, the ECC constituted a sub-committee comprising Minister for Energy, Minister for Industries & Production, Advisor on Commerce, Deputy Chairman Planning Commission, Addi-tional Secretary (CF) Finance Division and other relevant officials for presenting a plan to resolve the issue of continued use of gas by some units for power generation and non-cooperation in audit of such use.
The sub-committee was directed to present its rec-ommendations before ECC within 30 days for fur-ther deliberation.
The ECC approved a summary presented by the Power Division for extension of incremental con-sumption package for K-Electric industrial consum-ers of X-WAPDA DISCOs & K-Electric and appli-cation of incremental consumption package for BI (Non ToU) consumers of X-WAPDA DISCOs and K-Electric at the rate of Rs.12.96/kwh from 1st July 2021 to 31st December 2021.
The ECC also approved another summary by the Petroleum Division regarding NOC for issuance of the Parent Company Guarantees/Corporate Guaran-tees by each of the consortium companies, on a joint and several basis, in favour of ADNOC and SCFEA to pursue international exploration and production opportunity in Abu-Dhabi, United Arab Emirates.