The Economic Coordination Committee (ECC) of the Federal Cabinet has approved the expansion of the Kamyab Pakistan Program across the country and the extension of the Defence Credit Line Facility of $50 Million to Sri Lanka to enhance bilateral defense and security cooperation.
Federal Minister for Finance and Revenue, Shaukat Tarin, presided over the ECC meeting today. Federal Minister for National Food Security and Research, Syed Fakhar Imam, Federal Minister of Planning, Development and Special Initiatives, Asad Umar, Federal Minister for Industries and Production Makhdoom, Khusro Bakhtiar, Federal Secretaries and senior officers attended the meeting.
The summary for the Kamyab Pakistan Program was ratified by the Committee after reviewing the prior progress of the flagship initiative in the past few months. To recall, the Federal Cabinet has already approved an outlay of Rs. 1,053.409 billion towards payment of mark-up subsidy and expected loan loss claims via Microfinance Providers ad Housing Finance Companies for the period 2021-28.
The ECC, after deliberation on a summary presented by the Ministry of Industries and Production on fixation of imported Urea price, approved the cost estimates for import of Urea, amounting to Rs. 12.345 billion on a cost-sharing basis among the Federal and Provincial Governments on a 50:50 basis.
The ECC also considered and gave principal approval on a summary presented by the Ministry of Defence Production for extending the Defence Credit Line Facility of $50 million to Sri Lanka to enhance bilateral defense and security cooperation.
The Ministry of Industries and Production submitted a summary on the grant of arrival/priority berthing of TCP’s Urea vessels at Karachi Port Trust (KPT). Considering the urgent requirement of Urea in the country, the ECC approved the proposal.
