Home General ECC approves $17.3 million for payment of Roosevelt liabilities

ECC approves $17.3 million for payment of Roosevelt liabilities

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ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has approved $17.3 million for Pakistan International Airlines Investment Limited (PIAIL) for payment of liabilities in respect of Roosevelt Hotel, import of 3 million metric tonnes of wheat, and the Policy for Regulation of NGOs/NPOs receiving Foreign Contributions-2021.
Federal Minister for Finance and Revenue Shaukat Tarin chaired the ECC meeting on Wednesday.
The ECC approved US $17.3 million for Pakistan International Airlines Investment Limited for payment of recurring as well as one-off liabilities in respect of Roosevelt Hotel, New York, as verified by the Auditor and recommended by PIAIL Board. The ECC also directed that the Finance Division, Privatisation Commission and PIA/Aviation Division should consult with one another and propose a strategy in a month’s time for deciding the future of the asset.
The meeting approved the request of the Ministry of National Food Security & Research for import of 3MMT of wheat subject to approval by PPRA Board for building up the strategic reverses of wheat in the country.
The ECC also approved the provision of 500,000MT of wheat to the government of Khyber Pakhtunkhwa out of PASSCO stock during the crop year 2021-22 on the usual terms and conditions. All charges, including incidental charges will be borne by the Food Department KP. Similarly, 500,000MT imported wheat was also allocated to the Food Department KP to meet the provincial requirement.
The ECC approved the “Policy for Regulation of NGOs/NPOs receiving Foreign Contributions-2021”. The NGO Policy, 2021 has been designed with the aim to foster a sense of partnership between government and non-government sectors. Furthermore, under the new policy approval process (for registration) will be completed within 60 days, maximum, through online submission of application and consultation, doing away with manual processing and eliminating long delays.
The new policy seeks to expand space for credible organisations to play an effective role in socio-economic development while deterring NGOs with dubious credentials. The ECC appreciated the efforts of the Economic Affairs Division for designing the much-needed policy and directed that any further suggestions from all the relevant stakeholders may also be incorporated in the policy and a report on the same may be shared with the forum within 4 to 8 weeks.
The ECC allowed operational losses up to a maximum of 0.5 percent for gasoline transportation through WOP & MFM pipelines through Inland Freight Equalisation Margin (IFEM). The same will be adjusted against actual based on physical inventory of pipelines to be undertaken periodically. The actual rate will be determined by the Oil and Gas Regulatory Authority (OGRA) based on actual losses and excess margin would be brought before ECC.
The ECC also approved following technical supplementary grants: Rs1.370 billion for the Finance Division to provide wheat subsidy to the government of Gilgit-Baltistan; Rs32.097 million for the Ministry of Industries and Production to meet the expenditure of its various organisations; Rs1.6 billion for the Ministry of Industries and Production for clearing the bill of Sui Northern Gas Pipelines Limited (SNGPL) for the month of May 2021; Rs274.161 million for the Ministry of Information and Broadcasting to meet the shortage of budget of PTV Multan, AJK, English News Channel and Associated Press of Pakistan Corporation (APPC); and Rs570 million for the Ministry of Interior for security enhancement at Pakistan-Afghanistan border.
The other technical supplementary grants approved by the ECC included: Rs56.341 million for the Ministry of Maritime Affairs; Rs145 million for Pakistan Nuclear Regulatory Authority; Rs2.467 billion for Revenue Division for meeting the requirements of Pakistan Raises Revenue Programme; Rs834 million for Pakistan Atomic Energy Commission; and Rs49 billion for Karachi Coastal Power Project Unit 1 & 2 as requested by Pakistan Atomic Energy Commission.
Federal ministers Hammad Azhar, Azam Swati, Omar Ayub Khan, Ali Haider Zaidi, Syed Fakhar Imam, and Muhammad Mian Soomro, advisers to the PM Abdul Razak Dawood and Dr Ishrat Hussain, SAPMs Tabish Gauhar and Dr Waqar Masood, Governor State Bank of Pakistan Dr Reza Baqir, and other concerned officers participated in the meeting. – TLTP