The Economic Coordination Committee (ECC) of the Cabinet will consider the approval for the maintenance of strategic reserves of sugar for future price and supply control and for the cheaper supply of essential items.
A Ramzan Package for utility stores will also be taken up for approval, as per a document available with ProPakistani.
The ECC will meet on Thursday under the chair of the Minister for Finance, Shaukat Tarin, to discuss and approve an eight-point agenda. The agenda comprises various summaries moved by the Ministries of Commerce, Industries and Productions, Housing and Works, Information and Broadcasting, Economic Affairs, and National Health Service.
According to the summaries, the ECC will consider the provision of a subsidy for the public via the Utility Stores Corporation (USC) for February, March, and April for the holy month of Ramadan. It is estimated that Rs. 8 billion to Rs. 12 billion will be earmarked for the subsidy provision on basic food items through the USC.
The Ministry of Industries also presented a summary for the consideration of the ECC to keep strategic reserves of sugar in the country. Sources say that the government received a lot of public criticism for the price hikes after it decided to export Pakistan’s surplus sugar. The meeting is expected to result in the approval of the summary to create strategic sugar reserves to curb the escalating prices of sugar.
Also, the Ministry of Commerce is urging for the approval of allowance of a barter trade agreement with Afghanistan and Iran, which is expected to be granted in the meeting.
The ECC is likely to approve a summary to release a technical supplementary grant of Rs. 450 million for the National Institute of Health, and the Ministry of National Health Service is soliciting the proposal to increase the capacity of the institute for an effective response against COVID-19 in Pakistan.
The ECC will also consider approving releasing a Technical Supplementary Grant (TSG) worth Rs. 200 million to the Ministry of Housing and Works from the Public Sector Development Planning’s (PSDP) ‘Sustainable Development Goals Achievement Program (SAP)’ for the Development Expenditure of the Cabinet Division during the current fiscal year (2021-22). Similarly, a TSG amounting to Rs. 20 million for the Execution of Development Scheme in Sindh under the SAP is also expected to be approved.
The committee will also consider a summary by the Economic Affairs Division for the release of TSG amounting to Rs. 684 million ($ 3,708,323.00) for the Developing Somali National Identification System by the National Database & Registration Authority (NADRA).
It will also consider the conversion of cash development loans into Grant-In-Aid for the Pakistan Broadcasting Corporation, and is expected to approve all the summaries.
