PM fuel relief scheme approved: ECC okays draft agreement on refineries’ upgradation

The Economic Coordination Committee (ECC) has greenlit a draft agreement for upgradation of existing brownfield refineries in Pakistan. The Prime Minister's Fuel Relief Scheme received Rs75 billion in funding to provide targeted fuel subsidies to lower-income groups amid soaring petroleum prices. This initiative allows for the export of 200,000 tons of surplus sugar, while ensuring domestic price stability.

The scheme mandates digital management through the Fuel Pass System, guaranteeing efficient delivery and transparency. The ECC also ratified an Implementation Framework for refinery upgradation projects, with a projected completion timeline of five years. Financial matters of Oil Marketing Companies were settled through the Inland Freight Equalisation Margin (IFEM).

Pakistan National Shipping Corporation's ownership and management control underwent restructuring, and permission was granted for the export of 200,000 metric tons of surplus sugar. Additionally, the Government authorized Rs3.00 billion for the procurement of bullet-proof sedan vehicles to ensure security during the Shanghai Cooperation Organisation's Council Summit in Islamabad in September 2027.