April 19, 2022 (MLN): The Cabinet’s Economic Coordination Committee (ECC) approved Tuesday the additional grant of Rs 68.74 billion for the payment of Price Differential Claims (PDC) from Oil Marketing Companies (OMCs) and refiners for the month of April 2022 and to cover the deficit for the month of March 2022, a statement from the Finance Division said today.
Due to the continuously increasing trend of oil prices on the international market, the subsidy amount for the month of April 2022 is higher than in March 2022.
The statement added that the previous administration has not considered the PDCs for the 1st half of April 2022. Essentially, the current government has to bear the burden of a higher subsidy amount than the OMC’s PDCs.
The PDC’s summary of OMCs and Refineries is submitted by Petroleum Division.
The Federal Minister of Finance and Taxation, Mr. Miftah Ismail, chaired the meeting.
Federal Minister for National Food Security and Research Makhdoom Syed Murtaza Mehmood, federal secretaries and senior officers attended the meeting.
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