Abb Takk News

ECC Defers Surge in Gas Prices

ISLAMABAD: The Economic Coordination Committee on Wednesday has rejected the proposed increase in gas prices.

The decision was taken in The Economic Coordination Committee (ECC) meeting presided over by the finance advisor Abdul Hafeez Sheikh as other six points of the agenda were also discussed.

ECC has also approved supplementary grand of 80 million rupees and Rs 350 million grant for Pakistan Steel Mills to pay off the gas bill.

ECC has delayed the increasing gas prices for the next meeting while it has allowed SBP to sell its share to House Building Finance Company Limited (HBFC) on the recommendation of the finance ministry.