Its meeting was held in Islamabad on Tuesday with Finance Minister Dr. Abdul Hafeez Sheikh in the chair.
In view of the gas shortage‚ the ECC approved a proposal for induction of 75 million cubic feet of gas per day into the system from Makori field. Similarly‚ the ECC approved allocation of two MMCFD gas from OGDCL's NIM West Field to SSGCL.
While reviewing the key economic indicators the meeting noted that Consumer Price Index (CPI) stood at 11.0% during the last financial year as against 13.7% in the previous year.
Large Scale Manufacturing trend has been improved to 1.3% in May this year. Exports reached at 24.66 billion dollars and imports 40.04 billion dollars in 2011-12. Current Account Deficit remained at 586 million dollar in June this year. Foreign Exchange Reserves stood at 14.77 billion dollar on 20th of this month.
The ECC constituted a committee comprising Ministers for Law‚ Information and Broadcasting and Adviser to PM on Agriculture and Water Resources to formulate a mechanism for disposal of surplus wheat.