ECC allows EAD to avail G-20 debt relief for extended period

Mohammad Arshad

The Economic Coordination Committee of the Cabinet, Wednesday, approved the request of Economic Affairs Division to proceed with the formal request for availing the G-20 Debt Relief for the extended period, July- December 2021.

ECC also permitted the signing of MoUs with bilateral creditors in terms of the prevailing rules and regulations
The ECC met here with Finance Minister Shaukat Tarin in the chair and expressed the government’s commitment to provide $1.1 bn for procurement of Covid-19 Vaccine for achieving the vaccination target (minimum 45 million and maximum 65 million) till December 2021.

In a previous meeting held on May 31st 2021 ECC had already approved $ 130 million (equivalent to Rs. 20 billion) for procuring the vaccine for the month of June 2021.

However, due to the increased target of vaccination by NCOC, another $50 million was required in addition to the already approved amount for the month of June 2021.

The meeting was participated by Federal Ministers for Economic Affairs Division, Maritime Affairs, Power and Privatization along with Adviser to PM on Austerity and Institutional Reforms, Special Assistant to the Prime Minister on National Health Services, Governor State Bank of Pakistan and Federal Secretaries of various Ministries & Divisions.

ECC approved the additional funds of $ 70 million for achieving the vaccination target for the month of June 2021. Vaccine procurement is currently the responsibility of National Disaster Management Authority.

ECC allowed the amendments in three SROs (SRO 235 (1) 2020, 236 (1)/2020 and 237(1) 2020) dated 20th March 2020 issued by the Revenue Division to facilitate the Ministry of National Health Services, Regulation and Coordination for the import of COVID 19 medical and diagnostic equipment. .

ECC approved the following important technical supplementary grants, including Rs. 629.203 million for the Ministry of Federal Education and Professional Training for discharging the liabilities of Prime Minister’s fee reimbursement scheme for less developed areas during the current financial year. Rs.378 million for the Ministry of Federal Education and Professional Training for meeting its various important requirements.

Rs. 1162.745 million for the Finance Division for the payment of the annual maintenance fee of System Application Product (SAP) software licenses and for purchases of SAP software licenses. Rs.338.637 million for the Finance Division to meet the various budgetary requirements of Department of Auditor General of Pakistan under different heads of accounts.

Rs. 350 million for the Controller General of Accounts for payments under the Prime Minister’s Package to the families of Government Employees who die in service and leave encashment.