ECC approves continuation of subsidy on five essential items through Utility Stores
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ECC forms committee to review OMCs’ margins on petroleum products
ISLAMABAD (Dunya News) – Economic Coordination Committee of the Cabinet has approved continuation of subsidy on five essential items through Utility Stores Corporation till the end of current fiscal year.
The ECC, which met in Islamabad on Thursday with Finance Minister Dr Abdul Hafeez Shaikh in the chair, also approved re-allocation of over 2.3 billion rupees for procurement and IT infrastructure for automation of stock management throughout the network of Utility Stores.
It may be added that the subsidy is being given on five essential items out of funds allocated under Prime Minister s Relief Package-2020 in the backdrop of COVID-19 pandemic.
ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) on Thursday approved nine development projects with a total estimated cost of Rs251.31 billion including a major water supply project for Karachi.
The meeting of the newly reconstituted forum was presided over by Finance Minister Dr Abdul Hafeez Shaikh and attended by ministers for Planning, Industries and Economic Affairs besides advisers to Prime Minister on Commerce, Institutional Reforms and Austerity.
The meeting approved a summary regarding construction of Gwadar-Ratodero Road project (M-8) sponsored by the Ministry of Communication at a rationalised cost of Rs38.026bn.
The committee also approved phase-II of the Pak-China Optical Fibre Cable (OFC) Project for establishment of cross-border OFC network (Khunjerab-Karachi) along CPEC routes at a total cost of Rs37.96bn.
Privatisation faces further delay
Government expects minimum proceeds of Rs300 billion or around $1.5 billion from the sale of two power plants. PHOTO: REUTERS
ISLAMABAD:
The privatisation transaction worth over a billion dollars of two liquefied natural gas (LNG)-fired power plants has been delayed further as the government has not been able to resolve issues of income tax exemption and debt financing over the past two years.
Various government departments have been holding a series of meetings to resolve the issues raised by the financial advisers and prospective bidders for taking the transaction to the bidding stage. But progress remained painstakingly slow, said officials in the Ministry of Finance and Ministry of Privatisation.
ISLAMABAD: Prime Minister Imran Khan was Friday briefed by the Pakistan Bureau of Statistics on the decision-making system in view of inflation and the social and economic impact of the coronavirus.
PM briefed about stock availability, digital system to monitor inflation
APP
January 08, 2021
ISLAMABAD:
The prime minister directed strict action against all those involved in illegal profiteering and hoarding of sugar across the country.
Chairing a meeting on prices and availability of sugar, the prime minister stressed for taking the action without any discrimination to ensure availability of essential commodities.
Imran said profiteers and hoarders were the enemies of poor and did not deserve any concession.
The Punjab chief secretary, through video-link, gave a detailed briefing about the sugar produce, crushing and available stock in Punjab.
The prime minister was informed that to ensure ample availability of the sugar stock at controlled prices, the video-link meetings among all commissioners of divisions and deputy commissioners of districts were being held on a daily basis.