ECC extends subsidy on five essential items for 15 days thru USC

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has extended general subsidy on five essential items through Utility Stores Corporation (USC) for 15 days till July 15.
Federal Minister for Finance and Revenue Shaukat Tarin chaired the ECC meeting on Monday, which was attended by federal ministers Sheikh Rasheed Ahmad, Makhdum Khusro Bakhtyar, Hammad Azhar, Muhammad Mian Soomro and Syed Fakhar Imam, Advisor to PM on Institutional Reforms Dr Ishrat Hussain, SAPM Dr Waqar Masood and others.
The ECC constituted a committee to work out a future course of action within 15 days with regard to the subsidy.
The ECC approved a summary by the Industries and Production Division for approval of tender opened on 25-06-2021 for import of 100,000 metric tonnes of sugar. Regarding the proposal for intervention price for cotton 2021-22 crop by the National Food and Research Division, the ECC constituted a committee to submit its report within 15 days.
The ECC on a summary moved by the Maritime Affairs Division directed Petroleum Division, Finance Division and Pakistan State Oil (PSO) to provide a time frame for payment of the outstanding dues to Pakistan National Shipping Corporation (PNSC).
The ECC, on a summary moved by Power Division about payment of outstanding amount of net hydel profits, asked Power Division and Finance Division to come up with a possible solution/option for raising up required financing by Water and Power Development Authority (Wapda) within two weeks.
The ECC approved a technical supplementary grant of Rs10 million for Aviation Division and a technical supplementary grant of Rs73.870 million in favour of NSSP, Lahore. Similarly the ECC approved a technical supplementary grant of Rs20.70 million for Pakistan Academy for Rural Development, Peshawar, and a technical supplementary grant of Rs1 billion for payment of disparity reduction allowance to concerned offices.
The ECC approved a technical supplementary grant of Rs16.706 millions for Inter-Provincial Coordination Division for payment to the Federal Land Commission and approved another technical supplementary grant of Rs1,012.176 million for the Interior Division for Frontier Corps Balochistan (South).
The ECC further approved a technical supplementary grant Rs1.6 billion for Department of Immigration and Passports, Ministry of Interior, and a technical supplementary grant of Rs456.641 million for Federal Board of Revenue to pay off the pending liabilities of the project titled “Development of Integrated Transit Trade Management System”.
The ECC approved a technical supplementary grant of Rs2 billion for Foreign Affairs Division and a supplementary grant of Rs8 billion for the Textile Wing of Commerce Division. The ECC further approved a technical supplementary grant of Rs5,800 million for utilisation of foreign aid of NDRMF projects, Ministry of Planning, Development and Reforms. – TLTP