ISLAMABAD: Federal Finance Minister Ishaq Dar has chaired a meeting of the Economic Coordination Committee of the Cabinet (ECC) at the Prime Minister’s House. The ECC at the outset considered and approved a proposal submitted by Privatization Commission to pay two months salary to the employees of Pakistan Steel Mills in view of Eidul Fitr.
On the proposal submitted by the Ministry of Water and Power, the ECC approved amendments in agreement between CPPA and M/s Rousch, FKPCL and Davis Energen pertaining to revised payment mechanism, aiming to facilitate payments of imported RLNG by IPPs to gas suppliers.
The ECC on a proposal submitted by Ministry of Interior, Narcotics Control division, granted tax exemption on scanning equipment donated by Saudi Arabia to Anti-Narcotics Force (ANF) to enhance its capabilities in eradicating narcotics/ drugs. Federal Finance Minister Ishaq Dar directed that in all such cases in future, advance approval for exemptions may be sought by the ministries/divisions concerned. The Economic Affairs Division was also directed to issue a circular to all the ministries, divisions in this regard. ECC also approved the Draft Implementation Agreement for Imported R-LNG based power projects in the public sector.
After deliberation over the proposal submitted by the Ministry of Water & Power regarding Term Finance Facility for Power Holding (PVT) Ltd. the ECC accorded approval to extend repayment period under the facility from fifteen (15) months to five(5) years including extension in grace period from 03 months to 24 months, while other terms and conditions would remain the same
