ECC okays financing plan for RLING-III pipeline project

ISLAMABAD: An important decision was made for financing of RLING-III pipeline project.

According to details, the Economic Coordination Committee of the Cabinet, with Prime Minister Shahid Khaqan Abbasi in the chair on Friday approved financing plan for 1.2 Billion Cubic Feet per Day (BCFD) capacity RLNG-III pipeline project (Karachi to Lahore) to be undertaken by SSGCL and SNGPL.

The ECC directed Petroleum Division to also examine the possibility of Public-Private Partnership for the project.

Proposal to allocate 10 MMCFD gas from Adam X-1 and 18 MMCFD from Adam West X-1 to SSGCL was approved. The price of gas will be determined as per the applicable Petroleum Policy.

The ECC also granted approval for issuance of GoP Sovereign Guarantee for Rs. 39,000 million for construction of two 660 MW coal power projects at Jamshoro.

The approval has been granted after third party evaluation of the project and authentication of the projected demand and supply data submitted by NTDC.

The ECC also approved a proposal for withdrawal of sales tax and customs duty on imported cotton effective from 8th January, 2018.

The Prime Minister and members of ECC appreciated Shahid Mehmood, Secretary Finance for his meritorious services to the Government of Pakistan. Shahid Mehmood will retire from service on 06 January 2018.