| GEO Business|
| ECC proposes to share profit of petroleum revenue with locals|
| Updated at: 0250 PST, Tuesday, February 24, 2009|
ISLAMABAD: The sub-committee of the cabinet’s Economic Co-ordination Committee (ECC) on Monday proposed to share the profit of petroleum production with local population in the new petroleum policy.
Federal Minister for Privatization Syed Naveed Qamar chaired the committee’s meeting in which it was suggested that the bonus of production income would be spent on the development of infrastructure in provinces through a committee under new policy.
The meeting further decided that local population would be given priority in jobs.