*ISLAMABAD – The Economic Coordination Committee (ECC) under thechairmanship of finance minister Asad Umer has taken decision over the OGRArecommendation of increasing the gas prices.*

*Asad Umar has rejected the OGRA summary and decided that gas prices willremain unchanged for now.*

Finance Minister Asad Umar chaired the first ECC meeting of the government.

During the meeting, it was told that the circular debt has soared to Rs596billion while the gross circular debt on energy resources has reachedRs1,188 billion.

“Just last month, the circular debt increased by Rs30 billion,” thecommittee was further informed.

Moreover, the federal minister summoned a report from all concernedinstitutions.

The ECC meeting deliberated on a five-point agenda in the meeting today,comprising the circular debt and its impact on the power sector, gaspricing, financial health of Pakistan State Oil (PSO) and its liquidityposition, DAP situation for the Kharif crop and the measures to addressshortage of urea fertilizer.

Prime Minister Imran Khan, on Monday, formed a 12-member ECC and appointedFinance Minister Asad Umar as its chairman.