Economic Affairs Division Gets Approval to Request G-20 Debt Relief

The Federal Minister for Finance and Revenue, Shaukat Tarin, chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet at the Cabinet Division.

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The ECC approved the request of the Economic Affairs Division to proceed with the formal request to avail of the G-20 Debt Relief for the extended period of July-December 2021. It also permitted the signing of MoUs with bilateral creditors in terms of the prevailing rules and regulations.

The ECC expressed the government’s commitment to providing $1.1 billion for the procurement of COVID-19 vaccines to achieve the vaccination target (minimum 45 million and maximum 65 million) until December 2021.

In its meeting on 31 May 2021, the ECC had already approved $130 million (equivalent to Rs. 20 billion) for the procurement of the vaccine for the month of June 2021. However, due to the increased vaccination target by the NCOC, another $50 million was required in addition to the already approved amount for the month of June 2021.

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

 

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The ECC allowed amendments to three SROs —SRO 235 (1) 2020, 236 (1)/2020, and 237(1) 2020 — dated 20 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.

Additionally, the ECC approved the following important technical supplementary grants:

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1. Rs. 629.203 million for the Ministry of Federal Education and Professional Training for the discharging of the liabilities of the Prime Minister’s fee reimbursement scheme for the less developed areas during the current financial year.
2. Rs. 378 million for the Ministry of Federal Education and Professional Training for the fulfillment of its various important requirements.
3. Rs. 1,162.745 million for the Finance Division for the payment of the annual maintenance fee of the System Application Product (SAP) software licenses and for the purchases of the SAP software licenses.
4. Rs. 338.637 million for the Finance Division to meet the various budgetary requirements of the Department of the Auditor General of Pakistan under different heads of accounts.
5. 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 encashments.
6. Rs. 74.135 million to meet the marketing expenses of the incentive scheme of home remittances. The Chair directed for the impact analysis of this marketing scheme to be shared with the forum.
7. Rs. 505 million for the Housing and Works Division for the repair and maintenance of different government buildings.
8. Rs. 22.176 million for the Ministry of Human Rights to meet various employee-related expenses.
9. Rs. 37.423 million for the Industries and Production Division to meet the various expenses of the Small and Medium Enterprises Development Authority.
10. Rs. 82.8 million for the Revenue Division to meet its various obligatory expenditures.
11. Rs. 42.9 billion for the Finance Division for ways and means advances availed by the Provincial Governments.
12. Rs. 105.490 million for the Ministry of Narcotics Control for the clearance of loans and advances of the Shuhda and deceased officials of the ANF.
13. Rs. 2 billion for the Ministry of Federal Education and Professional Training to meet the financial requirements of the financially distressed universities.
14. Rs. 12.2 million for the Ministry of Climate Change to be given to the Environmental Protection Agency to meet its various expenses.

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