ECC meeting in Islamabad takes key decisions

ECC meeting in Islamabad takes key decisions

ISLAMABAD - Economic Coordination Committee (ECC) has approved supplementary grant of 500 million rupees for the construction of additional Carriageway on Torkham-Jalalabad Road under Prime Minister's Program for Reconstruction of Afghanistan.

The meeting chaired by Finance Minister Asad Umar in Islamabad on Monday noted that the decision will not only benefit the people and business community of Pakistan and Afghanistan but would also help promote trade between the two neighboring countries as well as the central Asian States.

The revival committee on Pakistan Steel Mills Corporation gave a comprehensive presentation to the ECC proposing various recommendations to make Pakistan Steel Mills a profitable and competitive organization.

The Economic Coordination Committee directed that Industries and Production Division and Privatization Commission submit formal recommendations in the form of a summary for a final decision.

The committee expressed its deep concerns over the increase in prices of medicines and food items. It directed the Ministries of Food Security and National Health Services to take practical measures to arrest the current trend of rise in prices.

The Petroleum Division briefed the ECC on the status of recoveries of Gas Infrastructure Development Cess for different industrial sections. The committee was informed about the litigation in different courts of law which had inhibited the collection of revenue during the recent years.