The government yesterday approved incentives for use of imported liquefied natural gas (LNG) and allowed 570,000 tonnes of urea import.
The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet, presided over by Finance Minister Ishaq Dar. The committee will meet again today to complete the agenda.
The meeting also approved a number of amendments to Oil and Gas Regulatory Authority (Ogra) Act to provide legal cover to a set of responsibilities the regulator was already performing under weaker rules, executive orders or ECC decisions.
On the request of the Ministry of Petroleum and Natural Resources, the ECC exempted the import of LNG from Gas Infrastructure Development Cess (GIDC) as determined by a secretarial committee.