ECC approves Kissan Package-2022.

ISLAMABAD -- The Economic Coordination Committee (ECC) of the Cabinet on Monday approved Kissan Package-2022 that is aimed at helping the farmers of the country. The ECC discussed summary submitted by Ministry of National Food Security and Research on Kissan Package-2022 and approved the package as proposed in the summary. Inter-alia the package includes, enhancement of agriculture loan disbursement from Rs1,419 billion to Rs1,802 billion, reduction in DAP price to Rs. 11,250/- per bag from Rs. 13,750/- and interest free loans to convert 3 lac tube wells to solar. Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) at Finance Division. Ministry of Energy, Petroleum Division submitted a summary on high speed diesel (HSD)/gas oil premium and shared that the demand for HSD has been substantially increased due to ongoing sowing season and rehabilitation efforts after the floods in the country. With regard to premium reimbursement to importers for smooth and sustainable supply of HSD in the country, the ECC allowed premium on HSD subject to maximum capping at US$16.75/BBL for importing OMCs other than PSO for the month of November, 2022. The ECC also considered the summary of Ministry of Energy, Power Division on standardized security package agreements for large-scale solar PV projects for substitution of expensive imported fossil fuels based power generation under the framework and approved the summary except special payment mechanism and quarterly indexation as was proposed in the summary. Further the ECC authorized Boards of AEDB and CPPA-G to approve any amendments in the IA (Implementation Agreement) and EPA (Energy Purchase Agreement), as the case may be, that are project specific and may be required to comply with NEPRA's Tariff Approval and/or Generation License for specific projects, subject to the condition that such amendments will not increase GOP obligations as contemplated and stipulated in the standard Security Package Documents. It was shared that GoP plans to...