ECC directs National Price Monitoring Committee to continue coordination with provinces for price stability

The National Price Monitoring Committee has been directed by the Economic Coordination Committee to continue regular coordination with the provinces for measures to ensure price stability and to check hoarding and profiteering.

According to the media reports, the Economic Coordination Committee issued the directions to the National Price Monitoring Committee during the meeting of the ECC that was held in Islamabad today (Friday, December 29) with Caretaker Finance Minister Dr. Shamshad Akhtar in the chair.

The group was briefed by the Pakistan Bureau of Statistics on the state of inflation and the most recent changes in the costs of key necessities. The Ministry of Overseas Pakistanis and Human Resource Development’s summary was also taken into consideration by the ECC when approving the Employee Old Age Institution’s budget.

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The forum gave EOBI credit for its strong performance and instructed it to create a long-term plan to pay off the two trillion-rupee pension debt in addition to closely adhering to the budget schedule. The organization’s proposed budget was accepted by the forum. There was a lengthy discussion over the summary for approval of the TAPI project as a Qualified Investment Incentive Package. The forum noted that the project is highly necessary and ought to get underway right now.

It was also decided to approve the Principles for resolving capacity deduction disputes about imported coal-based projects and to execute a side agreement with Port Qasim Electric Power Company. This was summarized in the Power Division’s report. Following a thorough deliberation, the ECC approved the Power Division’s proposed settlement with PQEPCL.

The publishing of the consolidated report of the State-Owned Enterprises for the Fiscal Years 2019-2020, 2020-2021, and 2021-2022 was approved at a meeting of the Cabinet Committee on State-Owned Enterprises that was also held today.