The Economic Coordination Committee (ECC) of the cabinet on Monday approved “Kamyab Overseas Programme (KOP) worth Rs3 billion as a new component of the Kamyab Pakistan Programme (KPP).
The ECC approved the initiative at a meeting chaired by Finance Minister Shaukat Tarin.
The new initiative is meant for prospective low-income overseas workers having confirmed foreign job offer, employment agreement and valid travel documents and registered with NSER to avail of interest-free loans under KPP.
A maximum amount of loan would be Rs300,000 and returned in easy instalments starting after three months of departure. The loan will be provided to 10,180 beneficiaries with estimated required funds of Rs3 billion for the fourth quarter of 2021-22.
The ECC approved a summary tabled by the Ministry of Industries and Production for Ramzan relief package of Rs8.280 billion on 19 essential items to be sold at subsidized rates at utility stores.
The ECC approved a summary presented by the Ministry of Commerce on proposed amendments to the import and export policy order 2020 for the development of Integrated Tariff Management System (ITMS) for Pakistan Single Window (PSW).
Ministry of Energy (Petroleum Division) submitted a summary for allocation of gas from the Togh field on a commercial basis. The ECC after discussion allowed up to 16 MMCFD gas from Togh field to SNGPL on a commercial basis. The wellhead price of the gas will be decided by the concerned regulator under the applicable rules and policy.
Ministry of Energy (Petroleum Division) submitted a summary to allow amending the Petroleum Concession Agreement, allowing GHPL Assignment of Working interest in Wali, Jandaran West, Saruna and Pesu block of OGDCL. The ECC approved to amend the respective Petroleum Concession Agreements by allowing GHPL to increase its Working Interest above its statutory Working Interest of 2.5 per cent being state participator in Wali, Jandran West, Saruna and Pesu blocks of OGDCL.
The Ministry of Energy (Power Division) submitted a summary on the incentive package announced by the prime minister regarding the reduction in the price of electricity. The ECC approved Rs136 billion for the PM’s relief package of Rs5 per unit by way of reduction in electricity charges base rate for the relief period of four months (March 2022 to June 2022). The relief package will be applicable to all commercial and domestic non-ToU consumers having monthly consumption up to 700 units, excluding lifeline consumers.
The Ministry of Energy (Petroleum Division) submitted another summary on reimbursement of price differential claims of oil marketing companies (OMCs) and refineries, in line with the PM relief package of reduction in the consumer prices of motor spirit and diesel by Rs10 per litre. The price differential would be paid to the oil marketing companies and refineries by the government as a subsidy to avert any shortage in the market. The ECC approved a special PDC disbursement mechanism to pay the PDC speedily within 15 days, the opening of a special assignment account with PSO and an initial amount of Rs20 billion to PSO in accordance with the mechanism.
The ECC also considered and approved technical supplementary grants for different ministries and divisions.
