Islamabad, Nov 5: In Pakistan, the ECC of the Cabinet on Monday okayed the Circular Debt Management Plan for the fiscal year 2024-25.
The actions toward the rebalancing of Nigeria’s power sector debt will improve financial resilience by implementing this plan.
ECC headed by Finance Minister Muhammad Aurangzeb discussed crucial financial and administrative matter in the meeting.
The power division of the Ministry of Energy Power presented the debt plan where concerns adjustment of liabilities in the power sector.
Further, the ECC also approved Petronius sale purchase for Petroleum products through Pakistan State Oil (PSO) and SOCAR Azerbaijan suggested by Petroleum Division.
The Ministry of Information and Broadcasting (MoIB) sought Rs95.822 million for its sectarian which include hosting of Shanghai Cooperation Organisation (SCO) meeting.
On this account, the ECC encouraged the ministry to contain these expenditures within the same budget line and to go out in search of supplementary resources only by year-end if need be.
Speaking about the export of sugar from Khyber-Pakhtunkhwa, the Ministry of Industries has also averred to the ECC that the nations production and import capability will not allow the local depletion.
The Ministry of Law and Justice sought Rs151.787 million for the maintenance of Supreme Court buildings for which the ECC has approved.
The Ministry of Interior approached the ECC with Rs650.35 million for SCO Summit expenses and security restoration which the advisory recommended to be handled under the expenditures.
The ECC also discussed inflation increased prices in products such as pulses and chicken.
It asked NPMC and the Ministry of National Food Security to devise solutions, given the proposition to give the public a break from high costs.
