ECC allows Pakistan LNG Limited to execute proposed framework agreement with SOCAR
The Economic Coordination Committee (ECC) of the Cabinet has allowed Pakistan LNG Limited to execute the proposed framework agreement with State Oil Company of Azerbaijan Republic (SOCAR).
The decision to this effect was taken at a meeting of the ECC held in Islamabad on Wednesday with Minister for Finance Senator Mohammad Ishaq Dar in the chair.
The ECC also directed Ministry of Petroleum to determine country’s need of LNG at least three months in advance on a rolling basis.
The ECC approved 404.769 million rupees in favor of Cabinet Division for various requirements of Six Aviation Squadron.
The ECC also discussed and approved 157.734 million rupees additional funds in favor of Ministry of Industries and Production for the payment of Employees’ salaries of Heavy Electrical Complex, markup to Bank of Khyber, operating and running expenses, subject to reconciliation of figures from the Finance Division.
The Economic Coordination Committee of the Cabinet further directed the Privatization Commission to complete the privatization process of Heavy Electrical Complex by 30th of this month.
