ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet meeting, under the chair of Finance Minister Ishaq Dar, has approved Rs1.5 billion Ramazan package against the last year’s Rs1.4 billion.
The meeting also approved balance amount of $35.96 million for induction of 15 aircraft on dry lease in the PIA fleet.
For the relief package, Finance Division would provide upfront payment of Rs1 billion to the Utility Stores Corporation (USC) to buy the items before Ramazan. These include flour (atta), sugar, ghee/oil, pulses(dal channa, dal moong washed, dal mash washed, dal masoor, white gram) baisen, dates, basmati rice, sela rice, broken rice, squashes and syrups (900 ml bottle) black tea, milk (Tetra pack) and spices.
Ministry of Industries has proposed a subsidy for 19 essential commodities from Rs4 to Rs10 during Ramazan at the USCs. The government would provide subsidy of a Rs 280 million on flour by selling it at Rs10 per kg less than market rate.
Similarly, it would provide subsidy of Rs 175 million on sugar to decrease its prices by Rs5 per kg at USC. Meanwhile, the price of Ghee and oil would be reduced by Rs10 per kg at USC compared to the open market prices.
A Rs 35 million subsidy would be given on dall channa to give a discount of Rs10 on per kg. The Ministry has also requested a subsidy of Rs10 million for dal moong, Rs10 million for dal mash washed and Rs10 million for dall masoor to sell the commodity at Rs10 per kg less at USC during Ramazan.
The ECC also accorded approval for the balance amount of $35.96 million for induction of 15 aircrafts on dry lease in the PIA fleet. It may be recalled that the ECC in its meeting held on 6th December 2014 had approved in principle, an amount of $52 million and provision of first tranche of $16.44 million for these aircrafts.
The provision of balance amount consequently was allowed today. PIA has arranged 10 A-320 and 5-ATR-72 aircrafts on dry lease, the Aviation Division’s proposal mentioned.
