{"id":55055,"date":"2024-11-05T13:10:42","date_gmt":"2024-11-05T08:10:42","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=55055"},"modified":"2024-11-05T13:12:16","modified_gmt":"2024-11-05T08:12:16","slug":"ecc-decides-audit-of-rs2-7-billion-sco-summit-beautification-funds","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/ecc-decides-audit-of-rs2-7-billion-sco-summit-beautification-funds\/","title":{"rendered":"ECC decides audit of Rs2.7 billion SCO Summit beautification funds"},"content":{"rendered":"<p>ISLAMABAD: The <a href=\"https:\/\/dailyausaf.com\/en\/business\/ecc-okays-additional-export-of-500000-mt-surplus-sugar\/\">Economic Coordination Committee<\/a> (ECC) of the cabinet has ordered a third-party audit of Rs2.7 billion claimed by city managers for the beautification of Islamabad for a recent <a href=\"https:\/\/dailyausaf.com\/en\/sports\/australia-wins-low-scoring-thriller-against-pakistan-in-melbourne\/\">SCO summit<\/a>.<\/p>\n<p>This decision was made during a meeting presided over by <a href=\"https:\/\/dailyausaf.com\/en\/world\/brics-leaders-tout-joint-finance-trade-projects-at-russian-summit\/\">Finance Minister<\/a> Muhammad Aurangzeb, where the ECC expressed surprise at the 83% increase in prices of pulses and chicken despite favorable factors at home and abroad.<\/p>\n<p>The audit report will investigate the utilization of funds allocated for the <a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/pm-shehbaz-reviews-preparation-ahead-of-high-profile-sco-moot-in-islamabad\/\">beautification project<\/a>, ensuring transparency and accountability.<\/p>\n<p>This move demonstrates the government&#8217;s commitment to responsible spending and addressing concerns of mismanagement.<\/p>\n<p>Additionally, the ECC approved a plan to increase <a href=\"https:\/\/dailyausaf.com\/en\/business\/nepra-lowers-electricity-prices-by-rs0-86-per-unit-for-october-2024\/\">electricity rates<\/a> to charge another Rs36 billion to consumers, aiming to reduce liabilities in the power sector and enhance financial sustainability.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, chaired the meeting of the Economic Coordination Committee (ECC) at the Finance Division, today. <a href=\"https:\/\/t.co\/VKeBA0dAD7\">pic.twitter.com\/VKeBA0dAD7<\/a><\/p>\n<p>\u2014 Ministry of Finance, Government of Pakistan (@Financegovpk) <a href=\"https:\/\/twitter.com\/Financegovpk\/status\/1853420172863750418?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Power Division reported that the circular debt stood at Rs2.393 trillion at the end of FY24, accentuating the constrained supply of electricity and slowing economic growth.<\/p>\n<p>The meeting also discussed the significant price hikes in essential items like pulses, chicken, and sugar, contradicting the government&#8217;s claims of single-digit inflation.<\/p>\n<p>Economic Adviser Dr. Imtiaz Ahmad noted that increasing prices were unjustified, given the decline in global prices, petrol and diesel prices, transport costs, and improved exchange rates<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has ordered a third-party audit of Rs2.7 billion claimed by city managers for the beautification of Islamabad for a recent SCO summit. This decision was made during a meeting presided over by Finance Minister Muhammad Aurangzeb, where the ECC expressed surprise at the 83% increase in [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":55058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2737,11356,13173,20832],"class_list":["post-55055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-economic-coordination-committee","tag-electricity-rates","tag-finance-minister-muhammad-aurangzeb","tag-sco-summit"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/55055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=55055"}],"version-history":[{"count":2,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/55055\/revisions"}],"predecessor-version":[{"id":55061,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/55055\/revisions\/55061"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/55058"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=55055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=55055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=55055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}