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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet meeting today (Friday) would be taking up 12 points agenda including the Finance Division’s proposal to refinance and credit guarantee scheme for collateral free lending to Small and Medium Enterprises (SMEs).

The ECC meeting convened on Wednesday with 9 points agenda items was postponed and now it was to be reconvened today (Friday) with 12 points agenda items after the inclusion of Finance Division’s proposals refinance and credit guarantee scheme for collateral free lending to SMEs and approval of technical supplementary grant for government of Gilgit-Baltistan and Climate Ministry’s summary for technical supplementary grant of Rs1,000 million (one billion) for public sector development project namely, ‘ten billion tree tsunami Programme (TBTTP) phase-I up-scaling of Green Pakistan Programme.’

The ECC meeting will be taking up Petroleum Division’s summary regarding approval for allocation of gas from Well NF HOR-1 to third parties, the Ministry of Defense and Production’s summary for approval of Technical Supplementary Grant (TSG) to the tune of Rs100 million from development budget of Ministry of Defence Production for Project Management Cell for Gwadar Shipyard.

The ECC will also consider Ministry of Housing and Works request for allocation of additional funds during the ongoing fiscal year (2020-21) in respect of development schemes of the Ministry of Housing and Works, and the Ministry of Industries and Production’s summary regarding approval of TSG of Rs85 million for payment of court fee in case Dr Hilal Hussain Al Tuwariqi and Al Ittefaq Steel Products Company Limited against Pakistan.

The Petroleum Division has also moved a proposal to the ECC, seeking approval of TSG, during current fiscal year for supply of gas to Allama Iqbal Industrial City Special Economic Zone (SEZ) and Poverty Alleviation and Social Safety Division for launching of 2nd Phase of Ehsaas emergency cash.

The ECC agenda also included Commerce Ministry’s proposal for condonation of delay of late shipment of vehicles imported by overseas Pakistanis as well as the Board of Investment’s proposal for exemption from minimum turnover tax under the SEZ Act 2012 and the Privatisation Commission’s summary with regard to grant of National Security Certificate (NSC) and outstanding issues of KE’s payables and receivables.

Copyright Business Recorder, 2021

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