ECC approves energy ministry’s plan to raise over Rs136bn financial facility

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a proposal of the Ministry of Energy to raise finance facilities of Rs136.45 billion and Rs30 billion for adjustment of existing finance facilities of Power Holding Limited.

The meeting of the ECC was held in Islamabad on Wednesday with Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh in the chair.

The ECC also approved a proposal by the Finance Division for the acquisition of 8.5pc additional shares of EPCL South Africa by enhancing Standby Letter of Credit by $2.7 million which would bring the aggregate investment of Packages Limited to $17.7 million.

The committee considered and approved two separate proposals by the Ministry of National Health Services for one technical supplementary grant of Rs784 million to pay for increase in the allowances of doctors and another technical supplementary grant of Rs228.547 million to pay for the increase in allowances and stipends of regular and student nurses and of Pakistan Institute of Medical Sciences, Federal Government Polyclinic, National Institute of Rehabilitation Medicine and Federal General Hospital.

The ECC also took up separate proposals of the Defence Division for one technical supplementary grant of Rs6.210 billion to pay for recurring cost of the Special Security Division (North) and another technical supplementary grant of Rs4.966 billion to pay for Internal Security Duty Allowance to the army troops deployed at the western border.

The committee further approved a proposal authorising the Ministry of Communication/National Highway Authority to proceed for procurement of consultancy services for Section-III Kalkatak-Chitral (48km) under the Chakdara-Chitral Road Project (N-45) being funded by EXIM Bank of Korea and loan assistance from Economic Development Cooperation Fund (ECDF).

The ECC also considered and approved a proposal by the National History & Literary Heritage Division for a technical supplementary grant of Rs255.315 million after an equal amount was surrendered by the Information & Broadcasting Division in pursuance of a Cabinet Division memorandum issued on 15th July transferring the administrative control of Pakistan National Council of Arts (PNCA) and Lok Virsa from the Information & Broadcasting Division to National History & Literary Heritage Division.

The ECC also approved another technical supplementary grant of Rs75.616 million to National History & Literary Heritage Division for the establishment of development works at PNCA and Lok Virsa.

The ECC also approved a proposal by the Ministry of Narcotics Control for a technical supplementary grant of Rs14.906 million as operational cost of Anti-Narcotics Force after a similar amount was transferred by International Narcotics & Law Enforcement Affairs (INI-P), US Embassy, Islamabad, to the Finance Division under assistance package to help Anti-Narcotics Force/Special Investigation Cell to implement ongoing counter-narcotics operations as per a mutual agreement.

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