ECC nods adjusting loans via subsidy to industrial sector
The Economic Coordination Committee (ECC) has decided to adjust payable loans of the industrial sector on power distribution companies (DISCOs) through the subsidy granted by the federal government. The Economic Coordination Committee of the federal cabinet made a series of decisions during the high-level session chaired by Advisor to Prime Minister Imran Khan on Finance, Revenue and Economic Affairs, Abdul Hafeez Shaikh. The committee decided to adjust payable loans of the industrial sector against the subsidy after a briefing given by officials of the Power Division regarding financial matters of the power sector. A committee comprising officials of Power Division and Finance Ministry will also be formed to handle matters relating to Industrial Support Package. ECC members have sought recommendations for reviewing Rs30 billion claim of K-Electric, whereas, the dispute emerged over electricity dues of Azad Jammu and Kashmir (AJK) in term of subsidy.