ECC approves dealer transfer price of imported urea at Rs2340 per 50kg bag.

ISLAMABAD -- The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved dealer transfer price of imported urea of 50kg bag at Rs2340/bag. Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet. The ECC considered and approved a summary of Ministry of Industries and Production on revision of price of imported urea and allowed to fix dealer transfer price (DTP) of 50kg imported urea bag at Rs. 2340/bag by NFML and provisionally approved incidental charges from KPT at Rs 594/bag and from Gwadar at Rs 1008/bag respectively to bring stability in the prices of urea in the market. The ECC further directed that the 50% of subsidy of the imported urea should be shared by the provinces. Petroleum Division tabled a summary on change in take-orpay commitment in power purchase agreements and gas supply agreements of three RLNG public sector power plants namely Quaid-e-Azam Thermal Power Plant, Balloki Power Plant and Haveli Bahadur Shah Power Plant. In the wake of prevailing international economic conditions and the unprecedented price hike of RLNG in the international market and to optimize the utilization of RLNG for the continued operations of these power plants, the ECC considered and approved the proposal of Power Division to fix the minimum take or pay commitment at 33% under the PPA and GSA to guard the interests of both buyers and suppliers. Further, the ECC allowed the fixation of GSD under the GSA at Rs. 15 billion per power project. The ECC considered...