ECC okays Rs.20 bn sovereign guarantee to stabilize stock market

ISLAMABAD: To be able to stabilize the inventory market of the nation, the Financial Coordination Committee (ECC) right here on Thursday authorised the proposal of Finance Division authorizing the federal government to concern sovereign assure amounting to Rs.20 bn for funding in Nationwide Funding Belief’s (NIT) State Enterprise Fund.

The ECC assembly was held in Islamabad at the moment with Adviser to Prime Minister on Finance, Income and Financial Affairs Dr. Abdul Hafeez Shaikh within the chair.

Ministry of Nationwide Meals Safety and Analysis secretary up to date the committee concerning the wheat scenario within the nation. He knowledgeable that the nation was in comfy place with having 7.257 million tons of wheat accessible within the inventory.

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Ministry of Maritime Affairs steered varied proposals on the revival and improvement of delivery business in Pakistan. The committee famous the proposals and suggested ministries of Petroleum and Maritime Affairs to collectively provide you with a complete proposal, in subsequent ECC assembly, for introducing a dynamic delivery coverage specializing in growth and improvement of native delivery business.

The ECC acceded to the proposal of Ministry of States, Frontier Areas to grant Rs.781,591,00zero for arranging 20,00zero metric tons of wheat for briefly displaced individuals of erstwhile FATA.

The ECC additionally authorised supplementary and technical supplementary grants for varied ministries and divisions.

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