PM’s fuel relief package gets ECC approval

ISLAMABAD: Pakistan’s Economic Coordination Committee on Monday approved Prime Minister Shehbaz Sharif’s fuel relief package, providing weekly assistance of 500 rupees to motorcycle and rickshaw users and 1,000 rupees every 10 days to owners of vehicles with engines up to 800cc.

The ECC, chaired by Finance Minister Muhammad Aurangzeb, approved a technical supplementary grant of 75 billion rupees for the fuel relief scheme, according to an official statement.

The scheme will be limited to non-commercial users, with each individual or vehicle owner eligible to receive relief for only one vehicle.

The committee also approved the introduction of a digital Fuel Pass system to ensure transparent distribution of the subsidy. The Ministry of Information Technology will develop and manage the system.

The ECC also approved a framework for restructuring the ownership and administrative control of Pakistan National Shipping Corporation. It endorsed recommendations submitted by a committee headed by the minister responsible for privatization.

The committee approved a draft upgrade agreement for existing oil refineries, setting a five-year deadline for completion of refinery modernization projects.

The ECC deferred consideration of the commercial import of used vehicles.

It also approved the export of an additional 200,000 metric tons of sugar, subject to safeguards aimed at maintaining price stability in the domestic market.

The committee further approved 3 billion rupees for the purchase of 15 bulletproof vehicles for the Shanghai Cooperation Organization summit.