ISLAMABAD: Finance Minister Dr Abdul Hafeez Shaikh is chairing a meeting of the ECC on Thursday. PPI
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Thursday decided to continue a general subsidy on five essential kitchen items until June 30, 2021 and turned down a request of the Utility Stores Corporation (USC) for immediate increase in their prices despite non-utilisation of rolled over funds from the Prime Minister’s Covid-19 Relief Fund.
The meeting presided over by Finance Minister Abdul Hafeez Shaikh also did not approve for the time being an increase in commission of oil marketing companies (OMCs) and their dealers and a five-year textile and apparel policy.
The Executive Committee of National Economic Council (ECNEC) has approved Rs25.5 billion for the Greater Karachi Water Supply project, also known as the K-IV. In a meeting chaired on Thursday by Finance Minister Abdul Hafeez Sheikh, the committee approved several plans, including a project to prevent flooding in Karachi during the monsoon rains. As part of the Karachi Transformation Plan, the project will provide an extra 260 million gallons per day of water to the city. Phase-I of the K-IV is expected to be completed in four years. In order to stop flooding like what occurred in Karachi last monsoon the Committee approved Rs16.8 billion for a solid waste emergency project. .
The Cabinet Committee on State-Owned Enterprises (SOEs) on Wednesday decided to remove Pakistan Television Corporation (PTVC) from the list of the SOEs whose privatisation has been proposed. PTV website/File
ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (SOEs) on Wednesday decided to remove Pakistan Television Corporation (PTVC) from the list of the SOEs whose privatisation has been proposed.
The decision was taken at the request of the Ministry of Information and Broadcasting.
The information secretary told a meeting of the committee that PTVC was undergoing massive restructuring to make it a financially viable, professionally efficient and technically sound state-owned enterprise to amplify national narrative and formulate favourable public opinion.
The decision was taken at the request of the Ministry of Information and Broadcasting.
The information secretary told a meeting of the committee that PTVC was undergoing massive restructuring to make it a financially viable, professionally efficient and technically sound state-owned enterprise to amplify national narrative and formulate favorable public opinion.
Forensic audit of major loss-making state-owned enterprises to be conducted
The committee meeting, chaired by Finance Minister Abdul Hafeez Shaikh, was attended by Minister for Privatization Muhammedmian Soomro and Adviser to the Prime Minister on Institutional Reforms and Austerity Dr Ishrat Hussain, besides senior officials from the ministries of finance and privatization.
Food inflation continues to persist
Prices of wheat flour, cooking oil and sugar went sky-high
KARACHI:
Food inflation has continued to pose a challenge to the government as prices of major kitchen items including wheat flour, cooking oil and sugar have gone sky-high despite the constitution of a committee to curb prices in the country.
Industry officials said that prices had been on the rise partly due to the return of middlemen to the supply chain of commodities.
They have also continued to speculate a likely shortfall in supplies that has kept prices at high levels.
Besides, a significant surge in international prices of wheat and cooking oil also impacted rates in the domestic market.