ECC allows EAD to sign 15 debt rescheduling agreements
March 15, 2022 (MLN): The Economic Coordination Committee (ECC) on Tuesday authorized the Ministry of Financial Affairs to indicator 15 financial debt rescheduling agreements with various credit score countries, finalized underneath the Debt Company Suspension Initiative (DSSI).
Very last 7 days, Pakistan signed two personal debt company suspension agreements amounting to $846 million under the G20 Financial debt Service Suspension Initiative (DSSI) framework with the Saudi Fund for Development (SFD).
Federal Minister for Finance and Income Mr Shaukat Tarin presided about the Financial Coordination Committee (ECC) of the Cupboard.
All through the meeting, the Ministry of Economic Affairs submitted a summary on G-20 Debt Service Suspension Initiative (DSSI). The ECC permitted the Ministry of Economic Affairs to indicator 15 financial debt rescheduling agreements with numerous credit international locations, finalized under Debt Provider Suspension Initiative (DSSI).
Moreover, ECC accepted the proposal of the Petroleum Division regarding issuance of sovereign promise amounting to Rs21,000 million in favour of M/s Faysal Lender Confined at a significantly lower markup rate for the remaining tenor of the loan i.e., 4 and ½ yrs alongside with the issuance of letter of convenience for new finance agreement w.r.t pipeline infrastructure enhancement undertaking LNG-II.
On a proposal of Petroleum Division for re-allocation of OGDCL’s Jhal Magsi gas to SSGCL, the ECC authorized reallocation of 15 MMCFD Jhal Magsi gas to SSGCL. SSGCL would have out the job of gasification of Jhal Magsi town and would embark the required fuel out of the proposed allocation. The injection of this gas will assist mitigate SSGC’s gas need-provide deficit.
Also, on a proposal of Petroleum Division for allocation of gas from Mari (Deep) gas reservoir to M/s SNGPL, the ECC approved in basic principle up to 110 MMCFD gas from Mari deep (Goru-B) fuel reservoir allocation to SNGPL until 30-06-2024 on a business foundation with path for the resolve of cost mechanism of gasoline.
Federal Minister for Nationwide Food stuff Safety and Investigate Syed Fakhar Imam, Federal Minister for Setting up, Enhancement and Distinctive Initiatives Mr Asad Umar, Federal Minister for Economic Affairs Mr Omar Ayub Khan, Federal Minister for Industries and Generation Makhdoom Khusro Bakhtiar, Federal Minister for Power Mr Hammad Azhar, Adviser to the Prime Minister on Commerce & Financial investment Mr Abdul Razak Dawood, Federal Secretaries and senior officials participated in the meeting.
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