On Wednesday, Federal Cabinet’s Economic Coordination Committee (ECC) meeting presided by Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh approved six technical supplementary grants, in addition to approving Rs 50 billion technical supplementary grant for the Utility Stores Corporation (USC).
ECC approved Rs.2.5 billion Ramazan Relief Package and tax-free transactions of government’s welfare project Ehsaas Program till June 30.
The ECC approved Rs 90.459 million for Pakistan Nuclear Regulatory Authority, Rs. 5.00 million in respect of Punjab Rangers to enable Ministry of Defence to purchase spare parts for the maintenance of helicopter during the current financial year and Rs 2.074 million, received a grant from the US Embassy in favor of HQ Frontier Constabulary Peshawar for the construction of Frontier Constabulary Training Center at Michni Shabqadar.
Rs 110 billion will be provided for relief in electricity and gas bills, Rs 100 billion for emergency relief funds.
The ECC approved $1.5 million for the payment of legal fees in court cases as supplementary grants.
The ECC, on the summary presented by the Economic Affairs Division for the recovery of foreign currency loans from private-sector borrowers, namely Ms. Gladari Cement Limited, decided that the Economic Affairs Division (EAD) should resubmit the proposal after consultation with the State Bank of Pakistan (SBP).
The ECC approved Rs 50 billion (as a technical supplementary grant) for the USC announced under the Prime Minister relief package.
The USC was further directed by the Chairman ECC to ensure the provision of essential items at reduced prices to the people in the wake of the current situation prevailing in the country due to COVID-19 as well as during the approaching month of Ramazan.
As much as Rs. 21 billion has already been disbursed to the USC after December 2019 for the purchase of essential items and the MD, the USC assured the ECC that the company was effectively using its market presence to provide affordable goods for people in this hour of need.
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