ECC Approves 245 Billion Rupees Supplementary Grants

The Economic Coordination Committee of the Cabinet has recently approved eighteen supplementary grants amounting to over 245 billion rupees. This decision comes as part of the government's efforts to address various financial needs and ensure the smooth functioning of key sectors in the country. In a related development, the ECC has also given its nod to a proposal put forth by the Petroleum Division. This proposal involves the disbursement of 9 billion rupees to settle the outstanding claims of Oil Marketing Companies (OMCs), including Pakistan State Oil (PSO), in relation to price differential claims.

This move is significant as it aims to resolve financial issues faced by OMCs, which play a crucial role in the country's energy sector. By settling these outstanding claims, the government is not only supporting the financial stability of these companies but also ensuring the continued supply of essential petroleum products to the public.

The approval of supplementary grants and the settlement of OMCs' claims by the ECC underscore the government's commitment to addressing financial challenges and promoting stability in key sectors. These decisions are expected to have a positive impact on the energy industry and contribute to the overall economic well-being of the country.