ECC approves 96 crore rupees for Steel Mills employees' salaries
Steel Mills is also facing acute shortage of funds to pay the salaries of employees
ISLAMABAD (Dunya News) -- Presided over by Finance Minister Ishaq Dar, Cabinet’s Economic Coordination Committee (ECC) held a meeting today.
Chairman Pakistan Steel Mills told during his briefing that after the release of 18 arab rupees under the bailout package approved by government last year, the production capacity of the Steel Mills had reached up to 50%. However shortage of electricity and gas has negatively affected output of the Steel Mills.
He said that Steel Mills is also facing acute shortage of funds to pay the salaries of employees.
The ECC gave approval to releasing funds of 96 crore rupees to pay the salaries and while it formed a sub-committee for review the predicament of the Steel Mills.
ECC also directed the sub-committee to present a plan on invigorating the state of Pakistan Steel Mills in the upcoming meeting.
ECC gave permission to Utility Stores to buy 28990 metric tons of sugar. Finance Minster Ishaq Dar said that no subsidy would be given on sugar.
Economic Coordination Committee, on the recommendation of Ministry of Water and Power, guaranteed a loan of 50 arab rupees.
The loan would be given to power distribution companies through a consortium.
The ECC also took notice of the issue of non-payment to farmers of sugarcane in Sindh.
The meeting was told that in some areas of Sindh, mill owners were not paying the agreed amount of 182 rupees per ton but were paying at a rate of 155 rupees per ton instead.
EEC advised Ministry of National Food Security to coordinate with Sindh government and keep the interests of the farmers in mind.
