ISLAMABAD: The Economic Coordination Committee (ECC) reviewed a summary submitted by the Ministry of Commerce regarding the sharing of subsidy on imported urea on a 50:50 basis.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet. Rana Tanveer Hussain, Minister for Industries and Production; Musadik Masood Malik, Minister for Petroleum; Sardar Awais Ahmad Khan Leghari, Minister for Power; Ahad Khan Cheema, Minister for Economic Affairs; Mir Jam Kamal Khan, Minister for Commerce; Ali Parvez Malik, Minister of State for Finance and Revenue; Governor State Bank of Pakistan; Chairman SECP; and Chairman Board of Investment. Federal Secretaries and senior officers from relevant ministries and divisions also attended the meeting, said a press release issued here.
It approved the release of PKR 10 billion to the Ministry for immediate settlement of outstanding dues related to imported urea subsidies. The decision aims to alleviate the financial burden and ensure the smooth and timely availability of urea to meet agricultural needs.
The ECC further directed the provinces to fulfill their share of subsidy payments, emphasizing equitable cost-sharing among all stakeholders.
The ECC considered a summary from the Ministry of Federal Education and Professional Training seeking approval for the provision of a PKR 1 billion government guarantee to launch the Pakistan Skills Impact Bond (PSIB), with NAVTTC as the issuer of the bond. The Committee advised the Ministry to develop a comprehensive plan and resubmit the summary for consideration.
The ECC approved a summary submitted by the Ministry of Housing and Works for the provision of a Technical Supplementary Grant (TSG) amounting to PKR 1.884 billion. The grant will facilitate necessary expenditures and address the financial requirements of ongoing projects under the Ministry.
