Finance advisor Hafeez Shaikh to chair ECC meeting today

ISLAMABAD: Federal advisor to the prime minister on finance Dr. Abdul Hafeez Shaikh will chair the Economic Coordination Committee (ECC) meeting today in Islamabad.

The meeting will be chaired by Prime Minister’s adviser on finance Dr Abdul Hafeez Shaikh in which a six-point agenda would be discussed.

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Sources said the ECC is likely to approve an increase in gas prices. The Oil and Gas Regulatory Authority (OGRA) has already suggested a gas price hike of 214 percent.

ECC is also expected to approve $100 million for the Pakistan Mortgage Refinery Company whereas the Finance Ministry will accept a supplementary grant of Rs80 million. The agenda of the meeting includes the supplementary grant of Rs100 million for the e-governance programme.

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Earlier on January 22, a petition had been filed in Lahore High Court (LHC) against the Economic Coordination Committee (ECC)’s over importing wheat flour.

Petitioner Kisan Bachao Tehreek filed the petition against the Economic Coordination Committee (ECC) as it earlier approved the import of 300,000 tons of wheat due to the shortage in the country.

The petition in his plea stated that due to the import of wheat, the farmers would suffer losses due. The fresh crop from Sindh would reach the markets by 15th March, the petitioner added.