Pakistan

ECC greenlights crucial initiatives in meeting chaired by Dr. Shamshad Akhtar

Published by

Web Desk

2 years ago

The ECC also discussed and approved a mechanism for the sale of imported urea at a weighted average price.

In a significant development, the Economic Coordination Committee (ECC) of the Cabinet, led by Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar, convened today to address key national matters. The high-profile meeting, attended by several prominent ministers and officials, tackled a range of crucial topics.

One of the notable outcomes was the approval of additional funds amounting to Rs. 250 Million for the Intelligence Bureau. The committee, acknowledging the recent surge in terrorism, sanctioned the funds as a Technical Supplementary Grant (TSG) to enhance the Intelligence Bureau’s capabilities, technical enhancements, and field activities to counteract the nefarious designs of terrorists.

The ECC also discussed and approved a mechanism for the sale of imported urea at a weighted average price, aligning it with locally manufactured urea. The decision comes with a directive to the National Fertilizer Marketing Limited (NFML) to ensure a reasonable price for urea, while the Ministry of Industries & Production will oversee the entire process.

In a move to bolster the healthcare sector, the ECC approved a Technical Supplementary Grant (TSG) of Rs. 3,568.719 Million for the Federal Directorate of Immunization (FDI), emphasizing the importance of clearing pending liabilities and enhancing the country’s immunization efforts.

The committee also addressed financial inclusion and infrastructure projects, approving the signing of an addendum to the Subsidiary Grant Agreement (SGA). This decision comes with an exemption from the relending policy, facilitating the release of funds to the State Bank of Pakistan.

Furthermore, the ECC demonstrated its commitment to sports by approving additional funds of Rs. 100 Million as a Technical Supplementary Grant (TSG) for the fiscal year 2023-24. This grant will support Pakistan’s participation in international sports events, including hockey, tennis (Davis Cup with India), and mind games such as scrabble and chess.

The meeting showcased the government’s dedication to addressing diverse national challenges, promoting economic growth, and supporting key sectors such as intelligence, industry, healthcare, and sports. The ECC’s decisions underscore the collaborative efforts to enhance governance and uplift various facets of Pakistan’s socio-economic landscape.

Web Desk