ECC Approves Rs9 Billion for Clearing OMCs’ Price Differential Claims


ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the release of Rs9 billion to clear outstanding price differential claims of Oil Marketing Companies (OMCs), including Pakistan State Oil (PSO).

The decision was made during an ECC meeting chaired by Finance Minister Muhammad Aurangzeb. The Petroleum Division’s proposal to allocate Rs9 billion for the payment of these claims was approved, addressing the financial backlog faced by the OMCs.

The ECC meeting also sanctioned several Technical Supplementary Grants (TSGs) amounting to around Rs244 billion for various ministries and divisions. Key approvals included funds for the Cabinet Division, President Secretariat, Ministry of National Health Services, Ministry of Kashmir Affairs and Gilgit-Baltistan, Ministry of National Food Security and Research, Ministry of Housing and Works, Ministry of Economic Affairs, and the Ministry of Interior.

The meeting was attended by key ministers, including the Minister for Industries and Production Rana Tanveer Hussain, Minister for Petroleum Musadik Masood Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, and Minister of State for Finance and Revenue Ali Pervez Malik, along with officials from relevant ministries.

Related posts