Economic Coordination Committee meeting in Islamabad takes important decisions

Economic Coordination Committee meeting in Islamabad takes important decisions

ISLAMABAD - Economic Coordination Committee has approved waiving off all port dues and charges amounting to 194.951 million rupees accruing against Turkish company, Karkey, on 31st of this month or till the vessels leave the port.

Meeting of ECC was held in Islamabad today with Advisor to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh in the chair.

The waiver was required as a consequence of the settlement agreement reached between the Government of Pakistan and Karkey Company.

The ECC approved the release of 350 million rupees for the partial settlement of the SSGC liability.

Establishment of Trust Fund to implement risk sharing facility under 3rd Tranche of 10 million dollars of credit line of 140 million dollars obtained from World Bank for Pakistan Mortgage Refinance Company Limited was also approved.

The Finance Division also sought approval for the demand of 80 million rupees as Technical supplementary grant in the budget of the Finance Division for the Financial Year 2019-20.

The grant is aimed at providing assistance for families of the government employees who expired during service and provision of Adhoc relief allowance 2019.

The ECC also approved issuance of direction of the Federal Government to the State Bank of Pakistan to sell its shares in House Building Finance Company Limited.

The committee approved the grant of Technical Supplementary Grant amounting to100 million rupees to National Information Technology Board under the Ministry of IT & Telecommunication for centralized procurement of ICT infrastructure to ensure e-readiness of Federal Government for the implementation of the E-governance program.