The Power Division, operating under the Ministry of Energy, has urgently demanded the immediate distribution of approximately 130 billion rupees in subsidy payments to K Electric and Azad Jammu and Kashmir. With the financial year drawing to a close, various ministries and divisions have compiled a series of supplementary grants for approval in a meeting of the Economic Coordination Committee (ECC) of the Cabinet, chaired by Federal Finance Minister Muhammad Aurangzeb on Tuesday. According to a local TV, topping the list is the Power Division's request for an advance subsidy release of Rs 70 billion in relation to K Electric's outstanding arrears, followed by a demand for the payment of 55 billion rupees in tariff differential subsidy arrears for Azad Jammu and Kashmir. Additionally, the Power Division has called for another technical supplementary grant of 2.5 billion rupees.

Interestingly, a supplementary grant of Rs 5.9 billion has also been sought for the erstwhile Earthquake Reconstruction and Rehabilitation Authority (ERRA). Furthermore, the ECC will review a summary for an additional grant payment of 4.8 billion rupees to the Pakistan Atomic Energy Commission. The ECC will also deliberate on a summary from the National Food Security Ministry, proposing an increase in the wheat procurement target for the Pakistan Agricultural Storage and Services Corporation (PASCO) from 1.4 lakh tonnes to 1.8 lakh tonnes in 2024. Although the government had announced a 400,000-ton increase in PASCO purchases to alleviate farmer hardships, particularly in Punjab, this announcement could not be implemented, leading to a growing wheat crisis in the province. However, the impact may be minimal as the provincial government has so far refrained from initiating wheat purchases.

Credit: Independent News Pakistan