ECC approves Rs40bn grant for defence services
Business
ECC approves Rs40bn grant for defence services
ISLAMABAD (Web Desk) – Economic Coordination Committee of the cabinet has approved technical supplementary grant, worth Rs40 billion against various approved projects of defence services and for subsidies and miscellaneous expenditures during current fiscal year.
The approval was given at a meeting of the committee in Islamabad with Caretaker Minister for Finance, Revenue and Economic Affairs Dr Shamshad Akhtar in the chair.
It was decided that the amount will not be released at once, but on case to case basis.
After detailed discussion and deliberation, the committee decided to constitute a separate committee for assessment of the restructuring plan of PIA.
It was also decided that Finance Division and the State Bank of Pakistan will support PIA to tackle its financial challenges after a concrete plan of restructuring is finalized and submitted to the satisfaction of the Committee.
