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ECC approves Rs9.85bn supplementary grants

Federal Minister for Finance and Revenue Shaukat Tarin chaired the meeting. Source: PID/APP

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet on Wednesday approved Technical Supplementary Grants (TSGs) worth Rs 9855.984 million for various divisions.

The cabinet committee meeting was chaired by Federal Minister for Finance and Revenue Shaukat Tarin attended by federal minister and secretaries of relevant departments.

The committee approved Rs. 300 million TSG for allocation from Public Sector Development Programme (PSDP) for establishment of Joint Border Markets at Mand District Kech, Gabd District Gwadar and Chedgi, District Panjgur against Rs100 million each.

The ECC further approved technical supplementary grant for Covid-19 Response and other Natural Calamities Control Programme (Sindh Component) worth Rs.9393.226 millionThe committee approved of Rs.98.700 millions TSG to meet the requirements of Frontier Corps KP (South), D.I.Khan under Interior Division.

The ECC also approved technical supplementary grant of Rs25 million for Pakistan Rangers Islamabad Headquarters under Interior Division and Rs. 39.058 million to Pakistan Institute of Development Economics for payment of salaries as well.

Divestment of Mari Petroleum Company

In a separate meeting, Federal Minister for Finance and Revenue, Shaukat Tarin directed the Privatization Commission and Ministry of Petroleum to come up with a comprehensive proposal for divestment of government shares in Mari Petroleum Company Limited.

While chairing the meeting of Cabinet Committee on Privatization (CCoP), the minister said that the divestment issue should be further examined in light of discussions held on Wednesday and a comprehensive proposal be presented in the upcoming of CCOP meeting

The committee also discussed the proposal for privatization of Services International Hotel and after thorough debate approved the revised reserve price subject to further approval by the Federal Cabinet.

The Cabinet Committee on Privatization (CCoP) also examined the proposal for removal of Pakistan Engineering Company (PECO) from active privatization list.

CCoP directed constitution of a committee consisting of representatives of Privatization Commission, Law Division, Establishment Division, Industries and Production Division, Finance Division and SECP to analyse the case and come up with its proposals on issues highlighted in the meeting.

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