Daily Times

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet here on Friday approved the Dealer Transfer Price (DTP) of 50 kg imported urea bag at Rs 2150 per bag. According to a press statement issued by the finance ministry, the committee also approved incidental charges at Rs 620.47 per bag with sharing subsidy on imported urea at 50:50 basis with provinces.

Finance Minister Senator Mohammad Ishaq Dar presided over the meeting of the ECC. The ECC approved the proposal containing request of M/s Zaver Petroleum Corporation (Pvt) Limited (ZPCL) for assignment of its entire 10% Working Interest (WI) in Bannu West Block to M/s Orient Petroleum Inc (OPI).

The ECC granted five years extension with effect from April 2, 2022 in the validity period of development and production lease of Zamzama D&PL, on the existing terms and conditions.

The committee also granted extension in the validity period of some 18 exploration licenses. It also approved tariff rationalization by way of adjustments for K-Electric to maintain the uniform tariff across the country at Rs 0.5087 per unit.

The ECC approved summary for Ministry of Commerce and allowed release of consignments of previously banned items for which Goods Declaration (GDs) have been filed on or after 22 August, 2022.