ISLAMABAD: The Economic Coordination Committee (ECC) on Monday approved the Communication Division’s proposal of providing a technical supplementary grant of Rs500 million for the construction of an additional carriageway on Torkham-Jalalabad Road under the prime minister’s programme for reconstruction of Afghanistan.
According to a statement issued from the ministry, a meeting of the ECC was held in Islamabad with Finance Minister Asad Umar in the chair.
The decision of ECC would not only benefit the people and business community of the two neighbouring countries but would also help promote trade between Pakistan and Afghanistan as well as central Asian states, reads the statement.
The revival committee on Pakistan Steel Mills Corporation on the occasion gave a comprehensive presentation to the ECC, proposing various recommendations to make Pakistan Steel Mill a profitable and competitive organization.
The committee directed that Industries and Production Division and Privatization Commission submit formal recommendations, in the form of a summary, to ECC for a final decision regarding PSM.
The statement further said that ECC expressed its deep concern over the increase in the prices of medicines and food items, and directed Ministries of National Food Security and Research and National Health Services, Regulations and Coordination to take practical measures to arrest the current trend of rising prices.
The Petroleum Division briefed the committee on the status of recoveries of gas infrastructure development cess (GIDC) for different industrial sections.
The ECC was informed about the litigation in different courts of law, which had inhibited the collection of revenue during the recent years.