ECC in Islamabad to reconsider changes in gas tariffs

ECC in Islamabad to reconsider changes in gas tariffs

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ISLAMABAD: The Economic Coordination Committee (ECC) is likely to meet today in Islamabad, sources informed media sources.

In the meeting, that will be presided over by Finance Minister Asad Umar, members of the committee are likely to reconsider the changes in gas tariff amid other economic challenges.

The finance minister said that all the facts would be made public to make decision making a transparent and inclusive exercise. He also expressed displeasure over the issue of fertilizer pricing and its export, by the previous government, which was totally against the interests of farmer community.

Earlier on Wednesday, the ECC was informed that the country’s circular debt amounted to Rs596 billion, following steep rise of Rs30 billion in July.

Another Rs582 billion was parked with the Power Holding Company under the STFF arrangements, hence bringing the total current liability to Rs1,188 billion, the Ministry of Energy, Power Division told the ECC in its detailed presentation based on data compiled up to July 31, 2018.

Moreover, the summary for Pakistan State Oil’s financial health and liquidity position was deferred as the issue was closely linked with circular debt.

 

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