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ECC Approves Supplementary Grants for Various Depts

ISLAMABAD: Economic Coordination Committee has approved a technical supplementary grant of 3.2 billion rupees to Pakistan International Airline to discharge the obligations on account of mark-up against government’s guaranteed loans.

Meeting of ECC was held in Islamabad today (Wednesday) with Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh in the chair.

The meeting also approved a number of other supplementary grants. These include 25.2 million rupees in favour of Pakistan Academy for Rural Development Peshawar for the current financial year, 1300 million rupees to Pakistan Atomic Energy Commission to discharge its various liabilities, 235 million rupees to Deputy Commissioner Islamabad for making payment of internal security duty allowance to troops of Pakistan Rangers (Punjab) deployed in the federal capital, 500 million rupees to the Ministry of Information and Broadcasting to meet the expenditure of media campaign on Covid-19, 100 million rupees for National Disaster Management Authority for procuring equipment for locust control in Punjab, 7.947 billion rupees to NDMA on account of procurement of emergency equipment through Pakistan Foreign Mission in China, 4.5 billion rupees for the capacity building of Civil Armed forces and 80 million rupees for Competition Commission of Pakistan for different expenses.

Some other grants that were approved include 100 million rupees for the purchase of kerosene oil by Head Quarters Frontier Corps KP (North), 8.093 million rupees for the Privatization Division for employee related expenditure, Two TSGs amounting to 1192.325 million rupees and 358.506 million rupees for Ministry of Federal Education and Professional Training for the Award of Scholarships to Afghan students.

ECC also granted approval for book value adjustment of overdue amount of loans amounting to 30.807 billion rupees to Earthquake Reconstruction and Rehabilitation Authority over and above its allocated development and non-development budget.

The Committee also approved the handing over of Pakistan Machine Tool Factory to Strategic Plans Division. For the purpose of operationalization of PMTF, 500 million rupees shall be provided to SPD as a loan.

ECC also approved the Risk Sharing Facility for SBP Refinance Scheme to support employment and prevent layoff of workers. The scheme supports provision of credit at concessional rate to businesses that commit not to lay off workers till September this year.