Economic Coordination Committee (ECC) has approved a proposal by power division for a special relief package of twenty billion rupees to further continue the provision of subsidized electricity until June this year to five export-oriented sectors.
Its meeting was held in Islamabad on Wednesday with Adviser on Finance Hafeez Sheikh in the chair.
The meeting also approved a proposal of the ministry of energy to two amendments aimed at providing ease of doing business to the upstream petroleum sector. The amendments are related to the extension of exploration licenses beyond two years and the creation of a new Zone-1 (F) for the onshore licensing regime and consequent revision in the zonal map.
The Economic Coordination Committee also okayed National Telecommunication Corporation's revised budget estimates for 2018-19 and 2019-20.
The meeting discussed a proposal to increase wheat support price to fourteen hundred rupees per forty kilograms. A special session of the committee has been convened tomorrow to discuss a detailed plan to keep the flour prices at the lowest possible level throughout the year in view of any increase in support price and.
