Monday, April 15, 2024

Economic Coordination Committee (ECC) expected to approve a grant of Rs114.5 Billion

ECC- Economic Coordination Committee of cabinet is all set to approve about Rs114.5 billion in a supplementary budget in order to clear the pending subsidy claims in the existing FY21.

According to the reports, government had also allocated a subsidy of about Rs147 billion that is for the power sector in the FY21; however, the finance ministry had released only about Rs32.5 billion till now.

However, the Power Division has also approached ECC regarding this while requesting for the approval of technical supplementary grant that is of Rs114.5 billion as to clear the pending subsidy claims of this sector of power.

The government had set aside Rs140 billion as for the power sector subsidy in the current FY21. It lately enhanced the subsidy to about Rs147 billion under a title of a Lump Sum Provision for the subsidy of Power Sector.

Mehjabeen Qasim
Mehjabeen Qasim
Business Journalist at Startup Pakistan

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