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ECC approves emergency fund to combat coronavirus

by Pakistan Latest News Update

Adviser to Prime Minister on Finance and Income Abdul Hafeez Shaikh on Thursday chaired the assembly of Financial Coordination Committee (ECC) and authorised an emergency fund to be established for tackling coronavirus outbreak.

The ECC assembly additionally authorised launch of Rs 5 billion to the Nationwide Catastrophe Administration Authority (NDMA) for provision of logistics and different obligatory objects to cope with coronavirus outbreak.
A supplementary grant of US$532,000 for a NADRA challenge in FATA areas whereas Rs 5 billion for sustainable development programme was additionally given a go-ahead by the ECC.
The Hafeez-Shaikh led assembly additionally gave its nod to a supplementary grant of Rs 275 million for federal housing and works ministry together with an approval for improve in electrical energy tariff for Okay-Electrical customers by way of gasoline adjustment.
The tariff for various classes might be raised by Rs 1.9 to Rs 2.89 per kilowatt. Nonetheless, the notification for this improve might be issued after three months.
A committee was shaped in the course of the assembly to mull over a bundle on nationwide electrical autos coverage and it was given a time-frame to submit a report on the matter inside a month. It could comprise of deputy chairman planning fee and officers from petroleum and different departments.
The assembly additionally borrowed a while to determine on losses of Pakistan State Oil (PSO) and different oil corporations resulting from depreciation of rupee in opposition to greenback. The assembly additionally determined to seek the advice of the Balochistan authorities over LPG tasks.

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