Rs. 22 billion bailout package approved by ECC for PIA
ISLAMABAD: The Economic Coordination Committee (ECC) of Cabinet has approved the new five year auto policy from 2016-21. 15 & 10% additional regulatory duty have been approved by ECC on the import of iron and steel items and aluminum alloy respectively till 30th June, 2016.
As per details, the meeting of ECC was held under the chairmanship of Federal Minister Ishaq Dar and 5 point agenda were discussed in the meeting.
Rs. 22 billion bailout package had been approved by ECC for PIA in the meeting. ECC has also approved to increase the limit of federal government guarantee for PIA from Rs. 146 billion to Rs. 151 billion which will be hepful for PIA to pay its liabilities.
ECC meeting has also extended the date till 15 June, 2016 for the import of wheat while the date of 0.4% withholding tax on banking transaction has also been extended by ECC for non-filers.