ECC approves 6 technical supplementary grants

By Staff Reporter
Thursday – April 9, 2020
ISLAMABAD: The adviser to the prime minister on finance and revenue (A-PM-FR) Abdul Hafeez Shaikh chaired the meeting of the economic coordination committee (ECC) of the cabinet, Wednesday, ECC approved 6 technical supplementary grants.

According to an official statement, ECC approved 6 technical supplementary grants including Rs. 842 millions for paying off the executing agencies of the prime minister (PM) youth loan scheme during the current financial year.

Rs. 90.459 million for Pakistan Nuclear Regulatory Authority (PNRA), to help PNRA meet its obligations.

Rs. 5.00 million in respect of Punjab Rangers (PR) to enable ministry of defence to purchase spare parts for the maintenance of helicopter during the current financial year.

Rs. 2.074 million, received as grant from the United States (US) embassy in favour of headquarters (HQ) Frontier Constabulary (FC) Peshawar for the construction of FC Training Centre at Michni Shabqadar.

$1.5 million for the ministry of energy to pay the legal counsels hired on behalf of the State in the international litigation case against M/S Karkey.

Rs. 300 million in favour of ministry of information and broadcasting to execute the communication campaign for the Ehsaas program in the next three months.

On the summary moved by the economic affairs division (EAD) for the recovery of foreign currency loans from the private sector borrowers, i.e M/S Gladari Cement Limited, ECC decided that EAD should resubmit the proposal after consultation with State Bank of Pakistan (SBP).

On the proposal by the ministry of energy for allowing foreign exchange gains/losses in excess of 7 percent on delayed payment for Kohala Hydro power project, ECC directed SBP to negotiate with all relevant stakeholders and come up with a viable and practical solution of the issue.

ECC approved Rs 50 billion (as TSG) for the Utility Stores Corporation (USC) announced under PM relief package.

USC was further directed by the chairman ECC to be ensured provision of essential items at reduced prices to the people in the wake of current situation prevalent in the country due to COVID-19 as well as during the approaching month of Ramadan.

Rs. 21 billion have already been disbursed to the USC after December 2019, for the procurement of essential items and the, USC managing director (MD) assured the ECC that it is effectively utilising its market presence for providing affordable goods to people, in this hour of need.