ECC approves increase in PIA borrowing guarantee

Islamabad

The Economic Coordination Committee (ECC) of the Cabinet, in its meeting held here Wednesday with Prime Minister Shahid Khaqan Abbasi in the chair, approved a proposal to increase the commercial borrowing guarantee limit of Pakistan International Airlines (PIA) by Rs 13.585 billion.
In order to provide relief to the families of Shuhuda (martyrs), the ECC approved a proposal to include words “and Shuhuda Family Welfare Account” in clause (6) Part III and clause (36 A), Part IV of the Second Schedule to the Income Tax Ordinance 2001, a press release issued by the PM’s Office here said.
The ECC also approved a proposal that Minimum Guaranteed Price for the wheat crop 2017-18 may be maintained at the previous year’s level, that is Rs 1,300 per 40Kg.
Supply of 20,000 metric tons of wheat from PASSCO to the United Nations World Food Programme for temporary dislocated persons of Federally Administered Tribal Areas was also approved.
Proposal to allocate 14.8 MMscfd gas (upto 8.0 MMscfd gas from Aminah Gas Field and upto 6.8 MMscfd gas from Ayesha North Field) to M/s Sui Southern Gas Company Limited (SSGCL) was approved.—APP

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