ISLAMABAD – Economic Coordination Committee important meeting held inIslamabad, Several key decisions taken.
The Economic Coordination Committee (ECC) of the cabinet has approved thecreation of a Digital Media Wing in the Ministry of Information andBroadcasting to counter fake/libelous news.
Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul HafeezShaikh chaired the meeting of the Economic Coordination Committee (ECC) ofthe cabinet at the Cabinet Division.
ECC considered and approved the grant of Rs. 153.25 million from the budgetof the Ministry of Finance, as a technical supplementary grant for theMinistry of Interior, to be given through the Office of the DeputyCommissioner of Islamabad for compensation to the victims of a suicidalattack at District courts F-8 Islamabad on 03-3-2014.
Finance Division supported the proposal in compliance with the orders ofthe Supreme Court of Pakistan.
In order to register Postal Life Insurance as a Public Limited Company, ECCapproved an amount of Rs. 700 million as initial paid-up capital. Theamount shall be allocated by the Finance Division and transferred to theproposed Postal Life Insurance Company. After the approval, Postal LifeInsurance shall fall under the regulatory framework of the Securities andExchange Commission of Pakistan.
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ECC also approved the creation of Digital Media Wing in the Ministry ofInformation and Broadcasting. The purpose of the Wing is to effectivelycounter the fake/libelous news and highlight the development agenda of thegovernment. The ECC directed the MoI&B to proceed with the creation of thewing by using available resources.
ECC also approved the amendment in SRO 192(1)/ 2019 dated 11-02-2019extending exemption from the regulatory duty to export-oriented units.
The committee approved the transfer of funds amounting to Rs. 31.5 millionin equivalent foreign exchange from the Ministry of Interior to theMinistry of Defence as Technical Supplementary Grant for the logisticsupport for the maintenance of Cessna aircraft.
ECC’s meeting was attended by Federal Ministers for National Food Securityand Research, Railways, Energy, Privatization and other senior officials ofthe different Ministries.
