Pakistan extends $50m defense credit Line Facility to Sari Lanka
Pakistan on Thursday extended the Defense Credit Line Facility of USD 50 Million to Sri Lanka to enhance bilateral defense and security cooperation.
The Economic coordination committee (ECC) considered and gave principal approval on a summary Ministry of Defence Production presented for extending the Defence Credit Line Facility of USD 50 Million to Sri Lanka to enhance bilateral defense and security cooperation.
Federal Minister for Finance and Revenue Mr. Shaukat Tarin presided over the Economic Coordination Committee (ECC) of the Cabinet.
Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister of Planning, Development and Special Initiatives Mr. Asad Umar, Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, Federal Secretaries and senior officers attended the meeting.
Supply of Oxygen Gas
ECC discussed in detail a summary presented by the Ministry of Industries and Production regarding uninterrupted supply of oxygen gas in the country for medical purposes and approved duty and tax exemption to products/goods i.e oxygen gas, oxygen gas cylinder, and cryogenic oxygen tanks for health sector up to June 2022 to cope with the fifth wave of Covid in the country.
ECC also considered and approved a summary submitted by the Finance Division on the expansion of the Kamyab Pakistan Programme throughout Pakistan.
The ECC after deliberation on a summary presented by the Ministry of Industries and Production on fixation of imported Urea price and 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 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.
Meanwhile, the ECC also considered and approved a number of proposals of Supplementary/Technical Supplementary Grants submitted by different Ministries/Divisions.
