ECC approves the revised textile policy 2020-25

Economic Coordination Committee (ECC) of the Cabinet approved Textiles and Apparel Policy, 2020-25 with certain amendments. The Ministry of Commerce submitted revised Textiles and Apparel Policy, 2020-25, after incorporating a few changes and an implementation report. The ECC discussed in detail and approved the summary submitted by the Ministry of Communication to issue a sovereign guarantee or SBLC worth Rs. 6944.0 million against Operational Viability Gap Funding (VGF) for constructing Sialkot (Sambrial) – Kharian Motorway project on a BOT basis.

The Ministry of Energy, Petroleum Division submitted a summary on 15 years’ extension of the lease contract between Saindak Metals Limited and MCC China for the Saindak Copper-Gold Project.

After a detailed discussion, the ECC allowed the extension of the lease contract and recommended reviewing the project’s financial aspect annually by professional expertise.

The ECC also approved the Ministry of Energy, Petroleum Division’s summary on the determination of RLNG sale price for PLL’s supply to K-Electric (KE). On another summary of Ministry of Energy, Petroleum Division, for revision of gas price of Mazarani Gas field held by M/s PPL and GHPL, the ECC approved the proposal of revision of gas price applicable to Mazarani Gas Field from US $ 1.75/MMBTU to US $ 3.75MMBTU from 1st September 2021.