ECC undecided on changing gas rates for fertiliser plants

Undecided about revising gas prices, the Economic Coordination Committee (ECC) on Tuesday directed the petroleum ministry to continue gas supply to all fertiliser plants for the time being to ensure sufficient supply to farmers in the just-started Rabi season. However, the meeting, presided over by Caretaker Finance Minister Dr Shamshad Akhtar, approved two summaries — one green-lighting the country’s first-ever telecom infrastructure-sharing framework, and the other allowing a change of the name of Al-Tuwairqi Steel Mills Ltd (TSML) to National Steel Complex Ltd (NSCL) because of a change of ownership. The change of name is subject to clearance from the Ministry of Law. The ECC took up summaries of the Ministry of Energy’s petroleum division and the Ministry of Industries regarding the pricing and allocation of gas for fertiliser plants. The committee “directed the Ministry of Energy to continue supplying gas to all fertiliser plants to ensure sufficient supply of fertilisers in the market”, an official statement said. It said the ECC also decided to form an inter-ministerial committee with the representation of the ministries of finance, planning, commerce, food security, industries, power and energy to present recommendations on allocating and pricing gas for the fertiliser industry. Informed sources said the petroleum division was seeking an increase in the sale price for Mari gas-based fertiliser plants to bring them on a par with other fertiliser plants with effect from Oct 1.