Home Business ECC approves formation of advisory committee for release of unsold NGMS spectrum
Business - 2 weeks ago

ECC approves formation of advisory committee for release of unsold NGMS spectrum

ISLAMABAD (APP) – The Economic Coordination Committee (ECC) of the Cabinet approved the formation of an Advisory Committee for the release of unsold Next Generation Mobile Services (NGMS) spectrum.

The meeting of the cabinet committee was chaired by Adviser to Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh, according to press statement issued by the Finance Ministry here.

As per the composition of the committee, Adviser to Prime Minister on Finance & Revenue would be its chairman while Federal Minister for Information Technology and Telecommunication, Adviser to PM on Commerce, Minister for Industries and Production, Federal Minister for Planning, Development and Special Initiatives would be its members.

As per the Terms of Reference of the Committee (ToRs), the committee would be mandated to examine and evaluate the market assessment report and recommendations of PTA for release of maximum NGMS spectrum in Pakistan.

It would also examine and finalize the policy directives for the federal government for the release of NGMS spectrum in Pakistan and oversee the release process to be conducted by PTA.

Meanwhile, ECC also approved the amendment in the minutes of an earlier decision (based on the directives given earlier in the meeting of 22 July 2020) related to subsidy of the Naya Pakistan Housing and Development Authority.

The amended and approved decision states “approval of allocation of Rs. 33,095 million on account of 10 years markup subsidy on loans with tenor up to 20 years with supplementary grant of Rs. 4,774 million on account of markup payment during the current financial year (FY 2020-21).

ECC also approved the continuation of concessionary rates of electricity and RLNG for export oriented sectors (erstwhile zero rated sectors).

It has been worked out by the Power Division that for July-August 2020, the electricity to export oriented sectors may be provided at US cents 7.5/kWh all inclusive and thereafter at US Cents 9/kWh all inclusive for the rest of the financial year 2020-21.

ECC also decided that Finance Division would continue with the existing guarantee of 31 billion for the power sector through Power Holding Company (PHL).

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Asian markets sink again as virus, stimulus, election fan fears

HONG KONG (AFP) – Asian markets tumbled Thursday following another sharp sell-off on…