A meeting of the Economic Coordination Committee (ECC) approved the Supply of 70 million cubic meters of LNG per day to two SNGPL-based fertilizer plants (Agritech and Fatima Fertilizer) to ensure sufficient urea for the spring 2021-2022 season. ECC also approved cash support for Pakistan International Airlines (PIAC).
On Wednesday, under the Chairmanship of Finance Minister Shaukat Tarin, a summary submitted by the Ministry of Industry and Production on the supply of LNG for SNGPL plants (Agritech and Fatima Fertilizer) for the spring season 2021-2022 was considered and approved.
The ECC agreed to supply 70 million cubic meters of liquefied natural gas per day in accordance with a directive aimed at meeting with representatives of fertilizer producers to ensure the total demand for urea in the country is adequately met.
He also urged the ECC to consider importing urea (if necessary) to maintain buffer stocks.
The ECC meeting also approved a summary of the government financial support provided by the CAA in accordance with PIAC requirements.
ECC has approved a $ 130 million PIAC grant for PIA Corporation.
ECC was informed that the airline’s revenues and cash flows have dropped significantly due to the pandemic and unprecedented travel bans / closures in various countries, hence require government support in these tough times.
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