Federal Minister Mr. Miftah Ismail presided over a meeting of ECC of the Cabinet
Petroleum Division submitted a summary for reimbursement of Price Differential Claims (PDCs) of Oil Marketing Companies (OMCs) and Refineries.
Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over a meeting of the Economic Coordination Committee (ECC) of the Cabinet, today.
Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Federal Secretaries, and senior officers attended the meeting.
Petroleum Division submitted a summary for reimbursement of Price Differential Claims (PDCs) of Oil Marketing Companies (OMCs) and Refineries.
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The price differential is to be paid to the Oil Marketing Companies/Refineries by the Government as a subsidy in the wake of the Government’s decision to keep the petroleum products’ prices stable.
The ECC after discussion approved a supplementary grant of Rs. 68.74 billion for disbursement of PDC to OMCs/Refineries for the month of April 2022 and to meet the shortfall for the month of March 2022.
Due to the continuously rising trend of oil prices in the international market, the quantum of subsidy for the month of April 2022 has been higher than in March 2022.
Further, the previous Government did not consider the PDCs for the 1st fortnight of April 2022. Substantially, the present government has to bear the burden of a higher quantum of subsidy as PDCs of the OMCs.
