Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet, today. Federal Minister for Power Mr. Khurram Dastgir Khan, Federal Minister Commerce Syed Naveed Qamar, Federal Minister for Industries and Production Syed Murtaza Mahmud, Federal Minister for National Food Security & Research Chaudhry Tariq Bashir Cheema, SAPM on Finance Mr. Tariq Bajwa, SAPM on Revenue Mr. Tariq Mehmood Pasha, Coordinator to the PM on Economy Mr. Bilal Azhar Kayani, Federal Secretaries and other senior officers attended the meeting. Ministry of Industries and Production submitted a summary regarding financing facility for electric bikes (E-bikes) and E-Ricksaws and presented details on viability, demand of electric bikes and incentive structure for potential users to make electric bikes affordable. In order to create quick and sustainable demand of E-Bikes/Rickshaws in the country, the ECC after discussion approved Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS) model for E-Bikes/E-Rickshaws. Under the scheme, clean loan upto Rs. 0.5 million will be given under Tier-I (T1) of PMYB&ALS at 0% markup rate for repayment in three years. This facility will be available for upto 15000 E-Bikes/Ricksaws in the current financial year. The modalities of the scheme will be worked out by the Ministry of Induatries & Production in coordination with PMYB&ALS. The ECC considered and approved summary of Ministry of Commerce regarding declaration of Customs Station Angoor Adda as authorized export land route to Afghanistan and through Afghanistan to Central Asian Republics. The ECC considered a summary of Aviation Ministry and approved increase in GoP guarantee related to USD denominated loans of PIACL to the tune of Rs. 15,607,394,711/- by enhancing the existing guarantee limit of Rs. 247.630 billion to Rs. 263.237 billion. Ministry of National Food Security and Research tabled a summary on price of sugar during the month of Ramdan and briefed the meeting on outcome of Sugar Advisory Board’s meeting with PSMA regarding retail price of sugar. The ECC endorsed the decisions of the meeting, that PSMA Punjab Zone has agreed to provide 20,000 MT of sugar at retail price o f Rs. 95 per kg during the month of Ramdan ( till Eid-ul-Fitar) for sale to general public through the Government of Punjab at district level. The ECC further directed to make arrangements with other provincial PSMAs on similar pattern for provision of sugar in other provinces/areas. ECC approved following Technical Supplementary Grants/Supplementary Grants: i. Rs. 261 million in favour of Ministry of Housing and Works for execution of development scheme – Construction of railway underpass Jahanian, District Khanewal. ii. US D 0.5 million equivalent to Rs. 142.5 million Rupee Cover in favour of Ministry of National Health Services , Regulations and Coordination, committed by SAARC Development Fund for standard package for strengthening preventive and curative activities for mental health and condition of Covid-19 research activities. iii. Rs. 250 million in favour of Ministry of Housing and Works for repair & maintenance of Supreme Court of Pakistan building, Judges residences, rest houses & sub- offices in various cities. iv. Rs. 22 million in favour of Ministry of Foreign Affairs for payment of liabilities of electricity. *-*-*-*-*
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