ISLAMABAD: On Wednesday, the Economic Coordination Committee (ECC) to keep gas prices unchanged for now.
Finance Minister Asad Umar chaired the first ECC meeting of the government.
Further, the finance minister summoned a report from all concerned institutions.
The meeting discussed a five-point agenda which was as follows:
1) Circular debt and its impact on the power sector
2) Gas pricing
3) Financial health of Pakistan State Oil (PSO) and liquidity position
4) DAP situation for the Kharif crop
5) Measures to address a shortage of urea fertilizer
On Tuesday, finance Mminister Asad Umar said the government has not made a decision to approach the International Monetary Fund (IMF) for a bailout package.
Speaking at the floor of Senate today, the minister further added that consultations on the current economic situation are underway and a final decision will be taken after taking the Parliament on board.
“Even if Pakistan goes to the IMF programme, this won’t be the first time that Pakistan has gone to the IMF programme. We have gone to the programme 12 times previously,” he remarked