Prime Minister Shahid Khaqan Abbasi today chaired a meeting of the Economic Coordination Committee of the Cabinet at Prime Minister’s Office.

May 17, 2018

Islamabad, 17 May, 2018:

 

Prime Minister Shahid Khaqan Abbasi today chaired a meeting of the Economic Coordination Committee of the Cabinet at Prime Minister’s Office.

The meeting considered a proposal for introducing necessary amendments in the relevant laws for the purpose of ensuring tax exemptions at the Gwadar Port and Gwadar Free Zone and constituted a committee to remove any anomalies in the proposed amendments.

 

The ECC also considered the issue of allocation of site to private LNG developers for establishment of LNG Terminal. It was decided that only those sites at Port Qasim would be allocated for the establishment of LNG Floating Terminal which have been declared safe after undertaking Quantitative Risk Assessment.

The meeting approved a proposal to allocated 35 MMCFD Mari shallow gas and 40 MMCFD of Mari Deep gas to Pakarab Fertilizer Ltd. (PFL) in order to optimally utilize its available installed capacity, encourage indigenous production of fertilizers and to lesson reliance on imported urea.

In order to address the issue of disparity in the sale price and the revenues of SNGPL and SSGCL, the ECC constituted a committee comprising of members from Petroleum Division, OGRA, Finance and Planing, Development & Reforms  Division to examine the option of replacing the weighted average cost gas (WACOG) equalization arrangement with a new arrangement of weighted average sale price (WASP)equalization arrangement. The Committee will examine all aspects of natural gas sale pricing mechanism and would submit its recommendation to the Cabinet within three months.

The ECC also approved 05 localities for SNGPL and  06 for SSGCL for setting up LPG Air Mix Plants for the purpose of supply of gas to the residents. The SNGPL localities include Bisham, Upper Dir, Kana, Alpuri, and Narrar in Punjab. The SSGCL localities include Dalbandin, Taftan, Zheri, Bekar, Kunri and Killi Balozai.

The ECC also approved an amount of Rs. 1140 million as three months salaries (Jan to March, 2018) for the employees of Pakistan Steel Mills Corporation (PSMC).