ECC approves provision of additional guarantee of Rs 20 billion for PIACL

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ISLAMABAD (City News) – Prime Minister Shahid Khaqan Abbasi today chaired a meeting of Economic Coordination Committee (ECC) at Prime Minister’s Office.

The meeting approved the supply of 35,000 metric tons of wheat from PASSCO to the World Food Programme for distribution amongst the Temporary Displaced Persons (TDPs) of FATA.

The ECC approved provision of an additional guarantee of Rs. 20 billion for PIACL to meet the expenditure for the overhauling of aircraft engines. The meeting directed Aviation Division and the Finance Ministry to ensure that the financing support approved by the ECC is strictly utilized only for the defined purpose. CEO PIACL also briefed the meeting about the progress made so far in the efforts to turn around national flag carrier and to reduce its losses.

The ECC approved a proposal for introducing necessary amendments in the OGRA Ordinance 2002 to cover the entire LNG/RLNG supply chain in the OGRA regulatory framework and to remove anomalies in the dispatch, receipt and billing of RLNG volumes.

The ECC also approved, in principle, exemption of regulatory duties on import of fresh fruits, vegetables and dry-fruits from Afghanistan which was announced by the Prime Minister during his visit to Afghanistan.

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