ISLAMABAD: The Power Division has sought immediate disbursement of about Rs130 billion on account of subsidy payments against K-Electric and Azad Jammu & Kashmir.

As the fiscal year approaches its end, various ministries and divisions have accumulated a series of supplementary grants for approval by the Economic Coordination Committee (ECC) of the Cabinet at a meeting to be presided over by Finance Minister Muhammad Aurangzeb on Tuesday.

On top of the list is a request from the Power Division to release Rs70bn advance subsidy in respect of K-Electric’s arrears, followed by Rs55bn on account of tariff differential subsidy arrears of AJK. The Power Division has also sought another technical supplementary grant of Rs2.5bn.

ECC meeting takes up requests for supplementary grants today

Interestingly, a supplementary grant of Rs5.9bn has been sought for the erstwhile Earthquake Reconstruction and Rehabilitation Authority (ERRA) that was announced to have reached its sunset many years ago. Another summary for payment of Rs4.8bn additional grant to Pakistan Atomic Energy Commission would also be considered.

The ECC would also take up a summary of the Ministry of National Food Security to increase the wheat procurement target 2024 for Pakistan Agricultural Storage and Services Corporation (Passco) from 1.4 million tonnes to 1.8 tonnes.

The prime minister had announced almost a week ago that the government would enhance Passco’s procurement by 400,000 tonnes to ease the difficulties faced by the farmers, particularly in Punjab, but the announcement remained unimplemented.

However, this would hardly impact the aggravating wheat crisis in Punjab, where the provincial government has so far refrained from starting wheat procurement, unlike its previous practice of purchasing more than 4.5m tonnes from the market.

Published in Dawn, May 7th, 2024