ISLAMABAD: The Aviation Division has asked the Economic Coordination Committee (ECC) to constitute a high-powered forum, under the chairmanship of Deputy Chairman Planning Commission, to deliberate additional funding of $35.577 million to Pakistan International Airlines-owned Roosevelt Hotel in Manhattan, New York.
The finance minister will chair the meeting of ECC on Wednesday to discuss 14 agenda items, including matters related to PIA’s Roosevelt Hotel.
According to sources, the Aviation Division has proposed the ECC to reestablish a high-powered committee, comprising secretaries of finance, aviation and law and justice divisions, to chalk out a strategy to overcome financial constraints faced by Roosevelt Hotel.
It may be noted the ECC, on the recommendation of the same committee in September 2020, had approved $142 million funding for PIA; however, the mode of financing was not mentioned by the committee.
Meanwhile, other items on ECC’s agenda included Ministry of Religious Affairs’ proposal for scaling up of the ‘Road to Makkah’ Project; Commerce Division’s Textiles and Apparel Policy 2020-25; Communication Ministry’s National Freight and Logistics Policy (NFLP); and conversion of National Highway Authority (NHA) loans into government grant.
The forum would also discuss the draft policy on equity investment abroad by residents, besides the Ministry of Industries’ proposal for waiver of taxes on import of sugar.