Islamabad (November 02, 2017):The Economic Coordination Committee (ECC) has approved a proposal to increase the commercial borrowing guarantee limit of PIA by 13.585 billion rupees.
The meeting of the committee held in Islamabad on Wednesday with Prime Minister Shahid Khaqan Abbasi in the chair.
In order to provide relief to the families of Shuhuda, the ECC approved a proposal to include words “and Shuhuda Family Welfare Account” in clause (6) Part III and clause (36 A), Part IV of the Second Schedule to the Income Tax Ordinance 2001.
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The ECC approved a proposal that Minimum Guaranteed Price for the wheat crop 2017-18 may be maintained at 1300 rupees per 40Kg.
The ECC also approved a proposal for construction of Machike-Tarujabba Oil Pipeline Project for the transportation of oil from Lahore to Peshawar.
Meanwhile, a detailed briefing was given to the federal Cabinet on future business plan and strategy to turn-around Pakistan International Airlines.
The Prime Minister directed that a committee be constituted to undertake detailed study of the proposed plan and to fine-tune the proposed strategy in order to make PIA a profitable business venture.
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