ECC approves Rs17bn financial support package for PIA
ECC decides to allocate 22 million cubic feet per day gas from two gasfields into the systems
ISLAMABAD (Dunya News) – A meeting of the Economic Coordination Committee (ECC), chaired by Finance Minister Asad Umar on Monday decided to allocate 22 million cubic feet per day (MMCFD) gas from two gasfields into the systems of two gas companies.
The ECC also approved Rs 17 billion financial support package for Pakistan International Airlines (PIA).
The Secretary Petroleum Division briefed the ECC about the gas supply situation on SSGCL network. The meeting decided to allocate 10 million cubic feet per day gas from the Bitrism field to Sui Southern Gas Company.
The ECC was informed that the supply of gas to zero rated industry (process+captive) under SSGCL system, covering Sindh and Baluchistan provinces would continue during the winter season, in accordance with recently approved gas supply priority for this sector.
The ECC directed the SSGCL management to withdraw the gas load management notices issued to these industries. Likewise there would be no gas load management for domestic consumers.
The ECC directed the SSGCL management to withdraw the gas load management notices issued to these industries. Likewise there would be no gas load management for domestic consumers.
The meeting approved provision of 12 MMCFD gas to SNGPL from Dhok Hussain gas field and also accorded approval for provision of 10 MMCFD gas to SSGCL from Bitrism gas field.
The ECC meeting decided to defer the decision on the Gas Load Management Plan for winter.
The ECC considered and approved the proposal of the Ministry of Energy (Power Division), for raising fresh financing of Rs35.806 billion through a syndicate of banks for PHPL.
Pakistan International Airlines Corporation (PIAC) Chairman briefed the meeting about current operational and financial position of the organisation.
The ECC directed the management to improve the business model of the company and to devise a strategic plan for solution to its financial and administrative problems on long term basis.
The committee approved the proposal for issuance of government guarantees of raising Rs17.022 billion for the immediate requirements of PIAC.
Ministry of Maritime Affairs Secretary briefed the meeting regarding the working of the LNG terminals at Port Qasim and the associated administrative and financial issues.
The ECC directed that the Ministries of Maritime Affairs and Petroleum should work closely to assess the requirements for setting up of new gas terminals and other necessary details in this regard.
