Business

Special relief package to continue provision of subsidized electricity

Special relief package

Special relief package to continue provision of subsidized electricity to five export oriented sectors until June 2020 approved.

Economic Coordination Committee (ECC) has approved power division’s proposal in this regard. 
The ECC made this approval during a meeting in Islamabad on Wednesday.
Special relief package
Adviser on Finance Hafeez Sheikh chaired the meeting.
The meeting also approved a proposal of the ministry of energy to two amendments.
Amendments aim at providing ease of doing business to upstream petroleum sector.
The amendments are related to extension of exploration licenses beyond two years and creation of a new Zone-1 (F) for onshore licensing regime and consequent revision in the zonal map.
Meanwhile, the Economic Coordination Committee also okayed National Telecommunication Corporation’s revised budget estimates for 2018-19 and 2019-20.
The meeting also discussed proposal to increase wheat support price to fourteen hundred rupees per forty kilogram.
They decided to convene a special session  of the committee tomorrow to discuss a detailed plan to keep the flour prices at the lowest possible level throughout the year in view of any increase in support price.

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