ISLAMABAD: A meeting of the Economic Coordination Committee of the Cabinet was held here. Finance Minister, Mohammad Ishaq Dar chaired the meeting.
On a proposal of Ministry of Commerce, the ECC allowed TCP to sell balance lint cotton stock available with them on retail daily basis at minimum of the KCA spot rate for the day through Commission Agent(s) whose services may be hired by TCP through open tender.
The ECC also approved the proposals of Ministry of Water and Power, to allow WAPDA to raise commercial financing of Rs 144 billion for Dasu-I project, and Rs 100 billion for Neelum Jehlum Hydropower Project, from local banks through conventional, Islamic mode of financing under government guarantees.
ECC considered and approved a proposal of Ministry of National Food Security and Research for payment of Rs 1.4 million to the transportation company, M/s Mercedes Cargo Services on account of supply of wheat to Afghanistan. The proposal had been submitted in the wake of a court judgment in the matter.
On a proposal from the Privatization Commission, ECC approved grant of two months salaries to Pak Steel Mills employees.
The Committee also accorded approval to the proposals of Ministry of Petroleum and Natural Resources relating to setting up of subsidiaries for import of LNG and construction of 2nd LNG Terminal. ECC also set up a committee to review the legal requirements in that regard.
