Economic Coordination Committee (ECC) decided to not change gas prices.
ECC meeting led by Finance Minister Asad Umer concluded to not change gas prices. During the meeting, it is elaborated that the current circular debt is Rs 596 billion while the gross circular debt on energy is 1,188 billion.
Committee also further informed that the circular debt increased by Rs30 billion in the last month. In addition, the finance minister also summoned the report from all concerned authorities.
However, the meeting included a five point agenda that as provided below:
- Gas pricing
- DAP situation for the Kharif crop
- Financial health of Pakistan State Oil (PSO) and liquidity position
- Measures to address a shortage of urea fertilizer
- Circular debt and its impact on the power sector
On August 27, PM Imran Khan constituted 12 members ECC and also appointed Asad Umar as its chairman. The cabinet division issued the notification which revealed that Petroleum Minister Ghulam Abbasi, Railways Minister Sheikh Rashid, Law Minister Farogh Naseem, and Planning and Development Minister Khusro Bakhtiar were appointed to ECC. In addition, PM’s advisors Dr Ishrat Hussain and Razak Dawood are also included in the committee.
According to sources, national food security, privatization, water resources, communications, power, and statistics will also be included in ECC after their appointment.