ISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday decided to keep gas prices unchanged for now.
Finance Minister Asad Umar chaired the first ECC meeting of the government.
“Circular debt has soared to Rs596 billion while the gross circular debt on energy resources has reached Rs1,188 billion,” the meeting was told.
“Just last month, the circular debt increased by Rs30 billion,” the committee was further informed.
Further, the finance minister summoned a report from all concerned institutions.
The meeting discussed a five-point agenda which was as follows:
1) Circular debt and its impact on the power sector
2) Gas pricing
3) Financial health of Pakistan State Oil (PSO) and liquidity position
4) DAP situation for the Kharif crop
5) Measures to address a shortage of urea fertilizer
On Monday, Prime Minister Imran constituted a 12-member ECC and appointed Asad Umar chairman.
A notification issued by the cabinet division stated Law Minister Farogh Naseem, Petroleum Minister Ghulam Abbasi, Planning and Development Minister Khusro Bakhtiar and Railways Minister Sheikh Rashid were appointed to the ECC. The committee will also include 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 — will also be part of the ECC after their appointment.