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ECC of Cabinet approves Ramzan package worth RS: 2 billion

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a two billion rupees Ramazan package to provide major kitchen items to the people on subsidized prices through Utility Stores.

The approval was given at a meeting of the Committee chaired by Finance Minister Mohammad Ishaq Dar in Islamabad on Thursday (June 27).

The Committee decided that significant discounts on essential items would be ranging from ten to thirty percent at the Utility Stores.

It directed to widely publicise the package‚ enabling maximum people to take advantage of lower prices of essential items during the holy month of Ramazan.

The meeting noted with satisfaction that there is sufficient sugar stock in the country to meet demand of the consumers during the month of Ramazan.

It‚ however‚ allowed Trading Corporation of Pakistan to procure one hundred thousand tonnes of sugar from local producers in two phases through a transparent competitive process to meet post Ramazan demand of the commodity.

The Economic Coordination Committee decided to settle 326 billion rupees of circular debt by the end of this month to overcome the energy crisis.

It decided to settle rest amount of the total 503 billion rupees of outstanding circular debt before August 10.

The Committee considered a summary from the Ministry of Water and Power requesting for issuance of government guarantee for additional cost of twenty three billion rupees for the Nandipur Power Project‚ caused due to negligent delays in clearance of documents.

It approved provision of letter of comfort allowing the contractor to mobilize and complete the project within shortest possible time keeping in view the power shortage.

The Economic Coordination Committee also considered a summary from the Ministry of Petroleum and Natural Resources for the import of LNG.

It approved a proposal of cancellation of the two tenders previously bid for this purpose and decided that a new process will be initiated and approved in the next meeting.

Asad Haroon
A netpreneur, blogger and above all; A Human :) Asad tweets from @aghaasadharoon and can also be approached on Google+

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