ISLAMABAD: The federal government on Wednesday approved a technical supplementary grant (TSG) of Rs50 billion for the Utility Stores Corporation (USC).
The approval came to the meeting of the Executive Coordination Committee (ECC) held under the chair of Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh.
The ECC chairman directed USC to ensure the provision of essential items at reduced prices keeping in mind the current situation due to COVID-19 as well as the upcoming month of Ramadan.
It was informed during the meeting that Rs21 billion had already been disbursed to the corporation after December 2019 for the procurement of essential items.
The USC’s managing director assured the ECC that the corporation was effectively utilising its market presence to provide affordable items to the people in this hour of need.
In addition, ECC also approved six technical supplementary grants of different ministries. On a summary of the Finance Division, a sum of Rs842 million was approved to pay the executing agencies associated with the Prime Minister’s Youth Loan Scheme during the current financial year.
An amount of Rs90.459 million was approved for the Pakistan Nuclear Regulatory Authority (PNRA) to help meet its obligations. The ECC also approved Rs5 million in respects of Punjab Rangers to enable the Ministry of Defence (MoD) to purchase spare parts for the maintenance of helicopters during the current financial year.
Meanwhile, the forum approved Rs2.074 million for the construction of the Frontier Constabulary Training Center at Michni Shabqadar. This amount had been received as a grant from the US Embassy in favor of the Frontier Constabulary Headquarters, Peshawar.
On the request of the Ministry of Energy (MoE), ECC approved $1.5 million to pay the legal counsels who were hired on behalf of the state in the international litigation case against Ms Karkey.
An amount of Rs 300 million was also approved in favor of the Ministry of Information and Broadcasting (MoIB) to execute the communication campaign for the Ehsaas Programme in the next three months.
On the summary moved by the Economic Affairs Division (EAD) for the recovery of foreign currency loans from the private sector’s borrowers i.e. Ms Gladari Cement Limited, ECC decided that EAD should resubmit the proposal after consultation with the State Bank of Pakistan.
On the proposal by the Ministry of Energy (MoE) for allowing foreign exchange gains/losses in excess of 7pc on delayed payment for Kohala Hydro power project, ECC directed the central bank to negotiate with all relevant stakeholders and come up with a viable and practical solution of the issue.
