The meeting of the Committee was chaired by Finance Minister Asad Umar here Friday.

The ECC also approved a proposal from the Finance Division for provision of funds amounting to US$ 82.6 million as grant to Pakistan Poverty Alleviation Fund (PPA) for disbursement to 320,000 BISP beneficiaries.

It may be added that Pakistan Poverty Alleviation Fund (PPAF) had devised the “National Poverty Graduation Programme” (NPGP).

The International Fund for Agricultural Development (IFAD) had agreed to provide a loan amounting to US $82.6 million to Government of Pakistan for NPGP on concessional rates.

A Project Financing Agreement with IFAD in this regard was also signed.

As per agreement, the government shall make the loan proceeds available as grant of PPAF for poverty graduation of BISP beneficiaries. The ECC was also given a detailed briefing on various matters pertaining to the sugar industry.