ECC Okays Funds for borders market with Iran

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The Economic Coordination Committee (ECC) on Wednesday approved the Technical Supplementary Grant of Rs. 300 million for allocation from PSDP for the establishment of Joint Border Markets with Iran.

The government will establish joint borders market at Mand District Kech, Gabd District Gwadar, and Chedgi, District Panjgur.

It approved Rs. 100 million for each border market.

Federal Minister for Finance and Revenue Shaukat Tarin chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet on Wednesday.

On September 17, 2020, the Prime Minister presided over a meeting to establish a meeting. Joint Border Market with Iran and Afghanistan and it was decided in the meeting to eighteen border markets in total, with six border markets to be established in the province of Balochistan along the Pak-Iran border.

It was, however, directed to execute projects in Gabd and Mand, in Balochistan in the first phase. During another meeting held under the chairmanship of the Prime Minister on 23d April, Chedgi-Kohak Border Market, Distt. Panjgur was also added to the list of projects.

During Pakistan’s Foreign Minister’s visit to Iran on April 21, 20 The Foreign Minister signed a Memorandum of Understanding (MoU) in Tehran.

Under the agreement, Pakistan and Iran will establish pilot projects at the Border Market at Chedgi-Kohak, Pahjgur, Mand-Pishin, District.Kech and Gabd-Rimdán, Dististt.Gawadar.

The Central Development Working Party (CDW) had approved these projects.

Its meeting took place on May 25, 2021. The Ministry of Planning and Development Special Initiatives (M/o PD and SI)O.M. No.4 (1)PIP/PC/2020-21, dated May 28, requested to allocated funds the Railways Division had surrendered amounting to Rs 300.0 million in favor of Commerce Division (Annex-B) for these projects.

Railway division had surrendered Rs 300.0 million for FY 2020-21 in favor of Development Grant to set up joint borders markets with Iran and Afghanistan.

Grant for Covid-19 Response

The ECC further approved a technical supplementary grant for the Covid-19 Response and Other Natural Calamities Control Programme (Sindh Component) worth Rs.9393.226 million.

The ECC during its meeting held on Wednesday approved a technical Supplementary grant of Rs.98.700 million to meet the requirements of Frontier Corps KP (South), D.I.Khan under Interior Division.

The ECC further approved the technical supplementary grant of Rs. 25 million for Headquarters Pakistan Rangers Islamabad under the Interior Division. The ECC approved technical supplementary grant amounting to Rs. 39.058 million to Pakistan Institute of Development Economics for payment of salaries as well.