ECC takes up gas price hike issue today
The meeting will be presided over by finance minister Asad Umar.
ISLAMABAD (Dunya News) – The Economic Coordination Committee (ECC) will meet today (Monday) and mull over hiking gas tariff for the second time in the month.
As per details garnered, the meeting will be presided over by finance minister Asad Umar which will discuss three-point agenda. The finance ministry has forwarded summary to ECC aimed at hiking gas tariff.
ECC will also receive report on soaring circular debts and expensive Liquefied Petroleum Gas.
At present, SNGPL and SSGCL are facing a loss of Rs156 billion each year due to the subsidy given on gas prices. Ogra has determined Rs275 billion revenue requirements for SNGPL and Rs211 billion for SSGC. This includes Rs29.4 billion previous year’s shortfall of SNGPL.
On September 10, ECC had postponed the decision regarding further increase in gas prices. It concluded that additional discussions will be held with all stake holders on the matter and the price of gas will be set after getting suggestions from users.
The meeting also decided to to import 1,00,000 tons of urea fertilizer to provide relief to farmers.
The 12-member ECC includes Law Minister Farogh Naseem, Petroleum Minister Ghulam Abbasi, Planning and Development Minister Khusro Bakhtiar and Railways Minister Sheikh Rashid. The committee also includes prime minister’s advisors Razak Dawood and Dr Ishrat Hussain
In addition, six more ministers — communications, national food security, power, privatisation, statistics and water resources — are part of the ECC.
