ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved the operation of fertilizer plants based at Sui Northern Gas Pipelines Limited (SNGPL) on domestic gas without a subsidy from May 31 to August 31.
According to a press release issued on Wednesday, the ECC met in a chair with Senator Mohammad Ishaq Dar, Minister of Finance and Revenue, and added that SNGPL-based fertilizer plants Fatima Fertilizer (Sheikhupura) and Agritech are among them. The Ministry of Industries and Production provided information on the country’s urea fertilizer situation as well as a summary of the needs for urea fertilizer in 2023.
Ministry of Climate Change and Environmental Coordination submitted a summary on the participation of Sindh’s Mangroves projects in voluntary carbon markets and presented that Sindh Forest Department is implementing two Indus Delta Mangrove projects viz Delta Blue Carbon-I(DBC-I) and Delta Blue Carbon-II (DBC-II) to generate carbon credits and trade with international entities on Voluntary Carbon Market(VCM).
The ECC after discussion approved the proposal of the Ministry that the DBC-I and DBC-II projects as these were initiated prior to the commitment made under NDCs in 2021 and these projects are expected to generate around US$ 200 to 220 million till 2043 with additional benefits of creating green jobs.
The ECC also considered a summary of the Ministry of Energy (Power Division) on payment mechanisms and agreements with M/s Uch Power (Pvt) Limited.
ECC approved the proposals of the Ministry for a Novation Agreement, Master Agreement, and PPA amendment that would result in savings of Rs. 33 billion over a period of seven years.
The ECC also approved the following technical supplementary grants/ supplementary grants including Rs 2.5 million in favour of Ministry of Climate Change and Environment Coordination to meet its expenditures.
The ECC approved Rs. 263.988 million in favour of the office of Controller General of Accounts (CGA) for the implementation of online billing solutions in Federal and Provincial Accountant Generals whereas Rs 497.261 million in favour of the Ministry of Housing and Works for the execution of development scheme titled “Construction of Railway underpass Gojra, district Toba Tek Singh”.
Rs 420 million in favour of the Ministry of Information and Broadcasting to meet its budgetary shortfall for Information Services abroad while Rs 10,746.216 million in favour of the Federal Directorate of Immunization (FDI) to procure vaccines and syringes for un-interrupted supply to the provinces.
Rs 20 billion in favour of Cabinet Division for Sustainable Development Goals Achievement Programme (SAP), Rs 25 million in favour of the President Secretariat for ERE expenditures, Rs 208 million in favour of the Intelligence Bureau to meet its Employee Related Expenses, and Rs 4000 million in favour of Ministry of Defence to meet its expenditures.
Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Syed Murtaza Mahmud, Federal Minister for Climate Change Senator Sherry Rehman, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Coordinator to the PM on Economy Bilal Azhar Kayani, Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, Federal Secretaries and other senior officers attended the meeting.
