The Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar presided over a meeting of the Economic Coordination Committee (ECC) of the Cabinet, today. The meeting was attended by the Minister for Privatization and Inter Provincial Coordination Mr. Fawad Hasan Fawad, Minister of Planning, Development and Special Initiatives Mr. Sami Saeed, Deputy Chairman Planning Commission Dr. Muhammad Jehanzaeb Khan, Minister for Law and Justice, Water Resources and Climate Change Mr. Ahmed Irfan Aslam, Advisor to PM on Finance Dr. Waqar Masood, Federal Secretaries, and other senior government officers of the relevant ministries. ECC was presented with five agenda an item of which first summary was from Intelligence Bureau for provision of additional funds of Rs. 250 Million during the current financial year 2023-24. The Intelligence Bureau briefed the committee about recent surge of terrorism which needed effective counter measures to thwart nefarious designs of terrorists. The Economic Coordination Committee approved the funds as Technical Supplementary Grant (TSG) for up gradation, technical enhancement and field activities of Intelligence Bureau with releases on need basis. The summary of Ministry of Industries and Production for approval of mechanism for sale of imported urea at a basket price along with locally manufactured urea was discussed at length. The ECC approved the mechanism for weighted average price with the direction to NFML for ensuring reasonable price for urea and Ministry of Industries & Production to provide oversight to the whole process. The Economic Coordination committee considered and approved the summary of National Health Services Regulation and Coordination for provision of Technical Supplementary Grant (TSG) amounting to Rs. 3,568.719 Million in favour of Federal Directorate of Immunization (FDI), and urged the provinces to clear their pending liabilities. ECC also considered the summary of Finance Division for signing the addendum to the Subsidiary Grant Agreement (SGA) regarding financial inclusion & infrastructure project and exemption from relending policy of release of funds to State Bank of Pakistan and accorded its approval. A summary from Ministry of Inter Provincial Coordination was also tabled for approval of release of grant for participation of Pakistan’s Hockey team in international events and other sports promotion activities. This grant, ECC was told would also be utilised for Davis Cup (Tennis) with India and other mind games like scrabble and chess. The Committee approved provision of additional funds amounting Rs. 100 Million as Technical Supplementary Grant (TSG) for FY 2023-24.
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