ISLAMABAD: The Economic Coordination Committee (ECC) has approved theissuance of $500 million worth Eurobonds for Mohmand and Diamer Bhasha dams.
However, the Economic Coordination Committee (ECC) has once again deferredgiving go-ahead to the Karachi Transformation Plan (KTP) and orders forholding more consultation with the relevant institutions and stakeholders,sources told ARY News.
Finance Minister Abdul Hafeez Shaikh chaired the session of ECC to discussa 10-point agenda. It is noteworthy to mention here that the meeting hadbeen scheduled to be held on Wednesday (yesterday) but it was postponed.
It has been decided to run a portion of Karachi Circular Railway (KCR)under public-private partnership under the supervision of Pakistan Railways(PR).
A technical supplementary grant worth Rs500 million has been approved forthe Ministry of Housing and Works, whereas, the committee approved theissuance of $500 million Eurobonds for Mohmand and Diamer Bhasha dams.
The ECC members have approved payments of loans for the projects for gasimports by Gas Infrastructure Development Cess (GIDC).
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A technical supplementary grant was also approved for the Higher EducationCommission (HEC) for PM’s Fee Reimbursement Scheme.
Moreover, Abdul Hafeez Shaikh has also chaired a session of the CabinetCommittee for Privatisation where the members approved transactionstructure of the state-owned Pakistan Steel Mills (PSM) Corporation.
While discussing the one-point agenda, a briefing was given by theprivatisation division to the cabinet’s committee regarding the transactionstructure of PSM. Under the plan, around 9,000 employees of Pakistan SteelMills (PSM) will be retired through a special scheme.
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