ISLAMABAD, Nov 01 (INP): Meeting of Economic Coordination Committee (ECC) held here on Wednesday with Prime Minister Shahid Khaqan Abbasi in chair gave approval of various proposals.
The ECC approved a proposal to increase the commercial borrowing guarantee limit of PIACL by Rs. 13.585 billion.
In order to provide relief to the families of Shuhuda, 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.
The ECC approved a proposal that Minimum Guaranteed Price for the wheat crop 2017-18 may be maintained at the previous year’s level i.e Rs. 1300/- per 40Kg
Supply of 20,000 Metric tons of wheat from PASSCO to United Nations World Food Program for temporary dislocated persons of FATA 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 SSGC was approved.
The ECC also granted exemption from rule 43 of 1986 rules for development and production leases over Sara and Suri fields.
Approval of field development plan and grant of development and production lease for Mubarak block No. 2769-4 and Gambat block No. 2668-4 was also accorded by the ECC.
ECC approved a proposal of the Petroleum division that 83.2 MMscfd (i.e upto 74 MMscfd gas from Shahdadpur, up-to 2.2 MMscfd gas from Shahdadpur East and up-to 7 MMscfd gas from Shadadpur West D&PL) be allocated/regularized to SSGCL as SSGC’s network already exists in the area and that gas from same block is already being supplied to the company.
The ECC also approved a proposal for construction of Machike-Tarujabba Oil Pipeline Project on BOT basis for the transportation of oil from Lahore to Peshawar. The construction of this pipeline would facilitate easy and inexpensive transportation of oil.
The ECC also granted exemption from the provisions of Section 7B of the Income Tax Ordinance 2001 for recipients of profit on debt from Behbood Saving Certificates and Pensioners Benefit Accounts.
Meanwhile, following agenda items were approved by the Federal Cabinet:
- Memorandum of Understanding (MoU) on Promotion of Tourism between the Government of theRepublicof Pakistan and the Government of the Republic of Mauritius.
- Approval of the Cabinet to the Signing of Agreement of Cooperation between International Islamic University Islamabad, Pakistan and Belarusian State Technological University (BSTU), Belarus.
- Summary for the Cabinet to Accord Approval to the Signing of Agreement of Cooperation between Department of Electrical Engineering, Faculty of Engineering & Technology, International Islamic University, Islamabad and Belarusian States University of Informatics and Radio Electronics.
- Summary for the Cabinet to Accord Approval to the Signing of Cooperation Agreement between Educational Establishment (BelarusianStateTechnological University of PhysicalCulture) MINSK, Republic of Belarus and International Islamic University Islamabad, Pakistan.
- Summary for the Cabinet Accord Approval to the Signing of Cooperation Agreement of Academic and Research Cooperation between Sulaiman Bin Abdullah ABA Al-Khail – Centre for Interdisciplinary Research in Basic Sciences (SA-CIRBS), International Islamic University Islamabad, Pakistan and Belarusian State University (BSU), Belarus.
- Summary for the Cabinet to Accord Approval to the signing of Memorandum to Understanding (MoU)between Universities Australia and Pakistan Higher Education Commission to Encourage Cooperation in the Fields of Higher Education and Academic Research of HEC.
- Summary for the Cabinet to Accord Approval to the Signing of Agreement for Academic Cooperation and Exchange between International Islamic University, Islamabad, Pakistan & the Belarusian State University (BSU), (MINSK, Belarus).
- NOC for the Award of “Commander’s Cross of the Order of Merit” to H.E. Mr. Khalid Memon, the Former Ambassador of Pakistan to Poland by the Government of Republic of Poland.
- Ex-Post Facto Approval for the Acceptance of the Turkish Military Award “The Legion of Merit” to Air Chief Marshal Sohail Aman NI(M), CAS by the Government ofRepublic of Turkey.
- Ex-Post Facto Approval for the Acceptance of “The Legion of Merit (Degree of Commander)” Medal to Admiral Muhammad Zakaullah NI(M), former Chief of the Naval Staff by the Government of United States of America.
- Ex-Post Facto Approval in Principle to Start Negotiations and Signing of Agreement on Cooperation between Associated Press of Pakistan Cooperation (APPC) and National Company Kazakh Information Agency (Kazinform).
A detailed briefing was given to the federal Cabinet on future business plan and strategy to turn-around Pakistan International Airlines.
The Prime Minister directed that a committee be constituted to undertake detailed study of the proposed plan and to fine-tune the proposed strategy in order to make PIA a profitable business venture.
Originally published by INP