Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee of the Cabinet, on Wednesday.
The ECC considered a summary of Ministry of Energy (Petroleum Division) and granted extension in Adam X-1 development and production lease for a period of five years w.e.f. 10-02-2022 in order to increase the domestic oil and gas production and to reduce burden of imported energy. Adam X-1 Development and Production lease was granted for a period of seven years w.e.f. 10-02-2015, covering an area of 19.42 sq. km and located in district Sanghar. The field still has potential for further commercial production.
The ECC considered a summary of Ministry of Poverty alleviation & Social Safety on subsidy for wheat seed (Rabi 2022-23) and allowed provision of Rs. 8.39 billion through TSG in favour of BISP for cash subsidy to farmers of flood affected areas instead of provision of wheat seeds as per recommendations of the Committee. Further, the ECC directed BISP to initiate cash disbursement through its partner bank as per eligibility criteria and the amount to be disbursed to each eligible person identified by Government of Sindh.
The ECC considered another summary of Ministry of Energy (Petroleum Division) and allowed one-year extended Well Testing (EWT) over Umair SE-1 Discovery Guddu (E.L) w.e.f. start of production under EWT arrangements. It was informed that an exploration licence (EL) was granted over Guddu Block in 1999, operated by M/s OGDCL. Based on the results of seismic data , OGDCL has made a new discovery in the Guddu EL from the Habib Rahi Limestone and Pirkoh Limestone by drilling a well namely Umair S.E-1.
The ECC also considered a summary of Ministry of National Health Services, Regulations and coordination and approved increase in MRPs of one (01) drug as per recommendation of Drug pricing Committee.
The ECC granted approval to a summary submitted by Ministry of Commerce and allowed TCP to carry on pre-shipment inspection of imported Wheat at load ports by its already pre-qualified six (06) International Pre-shipment inspection agencies (PSIAs) to ensure quality of imported Wheat as per approved specifications. It was informed that a number of wheat consignments are due in the coming months.
The ECC also considered and approved two summaries of Ministry of Interior regarding grant of financial aid of Rs. 10 million to the legal heirs of the deceased who died during the recent suicide blast at I-10 Markaz , Islamabad and Rs. 20 million for the legal heirs of the deceased who died during the recent long march of a political party.
The ECC discussed a summary of Ministry of National Food Security & Research for Technical Supplementary Grant of PCCC Employees and formed a committee consisting of Secretaries of MNFSR and Commerce headed by SAPM on Government Effectiveness Dr. Muhammad Jehanzeb Khan to evaluate viable options for the financial sustainability of Pakistan Central Cotton Committee (PCCC) and to submit report in 15 days.
