The Economic Coordination Committee (ECC) of the Cabinet on Wednesday formed a committee to finalise a business plan for improving the financial and operational performance of the national flag carrier, Pakistan International Airlines Corporation Limited (PIACL).
Finance Minister Ishaq Dar chaired the meeting of the ECC.
The meeting considered and approved the proposal of the aviation division to increase the government’s guarantee limit for the PIACL by Rs 10.5 billion from Rs 151 billion to Rs 161.5 billion, in order to cater to the immediate financial needs of the PIACL.
The ECC also decided to form a committee to be chaired by Minister for Planning Ahsan Iqbal, comprising of Chairman Privatisation Commission, Mohammad Zubair, Special Assistant to Prime Minister on Revenue, Haroon Akhtar Khan, Secretary EAD, Tariq Bajwa, and Acting Chairman PIA / Secretary Aviation Division, Irfan Elahi, to finalise a business plan for improving the financial and operational performance of the PIACL on a sustainable basis, in coordination with PIA management.
The ECC also considered and approved the proposal by Ministry of National Food Security and Research for the extension of time period for the export of surplus wheat and wheat products, from December 31, 2016 to 15 March 2017.
In view of the availability of surplus wheat stocks in the country, the ECC also allowed the export of additional quantity of 400,000 tonnes of wheat and wheat products by Punjab and Sindh governments.
The ECC also approved the disbursement of salaries for the month of October 2016 to the employees of Pakistan Steel Mills Corporation
