ECC Okays $ 17.3m to clear Roosevelt Hotel liabilities
The Economic Coordination Committee (ECC) has approved US$ 17.3 million or PIA-IL for payment of recurring as well as one-off liabilities in respect of Roosevelt Hotel New York, USA.
The Auditor had verified, and PIA-IL Board recommended it.
The ECC also directed that Finance, Privatization Commission, PIA/Aviation Division should consult with each other and propose a strategy in a month for deciding the future of the asset.
Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet today.
The ECC approved the request of the Ministry of National Food Security and Research for the provision of 500,000MT of wheat to the Government of Khyber Pakhtunkhwa out of PASSCO stock during the crop year 2021-22 on the usual terms and conditions.
All charges, including incidental charges, will be borne by the Food Department, KP. Similarly, 500,000MT imported wheat was also allocated to Food Department, KP, to meet the provincial requirement.
The ECC approved the “Policy for Regulation of NGOs/NPOs receiving Foreign Contributions-2021”. The NGO Policy, 2021, has been designed to foster a partnership between government and non-government sectors. Furthermore, the new policy approval process (for registration) will be completed within 60 days, maximum, through online submission of application and consultation, doing away with manual processing, and eliminating long delays.
The new NGO policy seeks to expand space for credible organizations to play an influential role in socio-economic development while deterring NGOs with dubious credentials.
The meeting appreciated the efforts of the Economic Affairs Division for designing the much-needed policy and directed that it may also incorporate any further suggestions/positive feedback from all the relevant stakeholders into the procedure. It also required to share a report with the forum in 4-8 weeks.
The ECC approved the Ministry of Energy (Petroleum Division) summary for allowing operational losses up to a maximum of 0.5% for gasoline transportation through WOP & MFM pipelines through Inland Freight Equalization Margin (IFEM). It will adjust the same against actual based on a physical inventory of channels to be undertaken periodically. The exact rate will be determined by OGRA based on substantial losses, and it would bring excess margin before the ECC.
The Committee also approved the request of the Ministry of National Food Security & Research for the import of 3MMT of wheat subject to approval by the PPRA Board for building up the strategic reverses of grain in the country.
The ECC approved the following Technical Supplementary Grants:
- i) 1.370 billion for the Finance Division to provide wheat subsidy to the Government of Gilgit Baltistan.
- ii) 32.097 million for the Ministry of Industries and Production to meet the expenditure of its various Organizations.
iii) Rs. 1.6 billion for the Ministry of Industries and Production for clearing the bill of SNGPL for May 2021.
- iv) 274.161 million for the Ministry of Information
