ECC Approves Proposed Revised Features Of Scheme, Its Budgetary Impact As Proposed By SBP

The Economic Coordination Committee (ECC) approved the proposed revised features of the scheme and its budgetary impact as proposed by the State Bank of Pakistan (SBP)

ISLAMABAD, (UrduPoint / Pakistan Point News - 8th Aug, 2023 ):The Economic Coordination Committee (ECC) approved the proposed revised features of the scheme and its budgetary impact as proposed by the State Bank of Pakistan (SBP).

The summary of the Finance Division regarding SME Asaan Finance (SAAF) Scheme was submitted for consideration by the ECC.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the ECC of the Cabinet, said a press release issued here.

Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Shahid Khaqan Abbasi MNA/Ex-PM, Minister of State for Petroleum Musadik Masood Malik, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, SAPM on Government Effectiveness Dr. Jehanzeb Khan, Coordinator to PM on Economy Bilal Azhar Kiyani, Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, Federal Secretaries and other senior officers attended the meeting.

The ECC considered a summary of Ministry of Industries and Production regarding Urea fertilizer requirement for Rabi season 2023-24. Considering the recommendations/proposals given by Fertilizer Review Committee (FRC), the ECC decided that the SNGPL-based plants i.e.

Fatima Fertilizer (Sheikhupura) and Agritech may be allowed to operate beyond 31st August, 2023 till 15th October, 2023.

A summary submitted by Pakistan Atomic Energy Commission regarding the issuance of GoP Guarantee for Chashma Nuclear Power Project Unit -5 (C-5).

The ECC decided to allow the issuance of gradual sovereign Guarantee for Chasma C-5 project within IMF program.

Ministry of National Food Security & Research submitted a summary for extension of Financial Schemes of Kissan Package 2022.

The ECC after discussion allowed an extension in the time period as per fiscal space available till 31 December 2023 to Financing Schemes of Kissan Package including the following: Provision of subsidy for interest-free loans for subsistence farmers in flood-affected areas.

PM's Youth Business and Agriculture Loan Scheme (PMYBALS) Markup Subsidy & Risk Sharing scheme for Farm Mechanization (MSRSSFM) Interest-Free Loan to landless farmers in flood-affected areas.

The ECC also considered a summary of the Ministry of Industries & Production regarding North Waziristan District (NWD) Single Entity Export Processing Zone. It was decided that Mineral Lease was located in Muhammad Khel for the area of 30 Sq. Km (ML � 30) and Exploration Lease located in Manzar Khel for area of 101 Sq. Km (EL-101) be declared as NWD Single Entity Export Processing Zone under Section 2 (k) of the EPZA Ordinance 1980.

The ECC also considered and approved a summary of the Ministry of Aviation on state support agreement for the outsourcing of Islamabad International Airport through international competitive bidding.