ECC anticipated to approve Rs114.5 billion Grant

The Economic Coordination Committee (ECC) decides to approve Rs114.5 billion a supplementary budget. The purpose of the budget is to clear the outstanding subsidy claims in the power sector in the ongoing fiscal year.

The Ministry of finance released only Rs32.5 billion till now. While a total of Rs147 billion released for the power sector in the current fiscal year. Therefore, the power division reached out to ECC for the approval of supplementary funds release. ECC requested to release of Rs114.5 billion to pay outstanding subsidies of the power division.

The FInance Division was releasing subsidies. By the verification of the various heads of the departments of the Ministry of Finance in the past. Now the power sector will generate a request to ECC for obtaining pending funds in the form of a technical supplementary grant.

The Power division claimed that the remaining Rs114.5 billion would be consumed for the clearance of subsidy claims i  FY21. Therefore, the Power Division has requested Economic Coordination Committee for approval.