ECC to form body for assessing restructuring plan of PIA
Pakistan
FD, SBP to support PIA to tackle challenges
ISLAMABAD (Web Desk) - Economic Coordination Committee of the Cabinet has approved Technical Supplementary Grant, worth 40 billion rupees against various approved projects of Defense 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.
