The Karachi Transformation Plan will be presented before the ECC for approval | Instant News


ISLAMABAD: Federal Finance Minister Abdul Hafeez Shaikh will chair the Economic Coordination Committee (ECC) meeting on Thursday (tomorrow) where the Karachi Transformation Plan will be presented before the meeting for approval, ARY NEWS reported.

The ECC meeting on Wednesday was postponed and tomorrow’s meeting will discuss a 10-point agenda including the Karachi Transformation Plan, which had been suspended in the committee’s two previous meetings.

The meeting will also approve a technical grant of Rs 500 million for the Ministry of Housing, as well as approval for the issuance of a US $ 500 million Euro Bond for the construction of Mohmand and Diamer-Bhasha Dams.

The port and shipping ministry will present a proposal to establish a new terminal based on BOT before the committee where changes in the master plan will be made for the construction of the new terminal.

The ECC agenda also includes approval for the gas company LPG Air Mix and loan payments drawn from GIDC for gas imports.

In the last ECC Cabinet, the Cellular Device and Electric Vehicle Manufacturing Policy was Approved for two and three wheeled vehicles.

The approval was granted at an ECC meeting chaired by Minister of Finance and Revenues Abdul Hafeez Shaikh in Islamabad.

The forum approved the elimination of a 4 percent tax cut on manufacturing for retailers of locally produced phones and an elimination of Sales Tax on locally produced phones.

The Ministry of National Food Security presented a summary for supplying additional quantities of wheat to the Azad Jammu and Kashmir Government and the Utility Shop Company.

The Minister of Finance aims to deliver the first load of additional quantities to AJ&K and USC with priority as an interim arrangement to ensure smooth supply of wheat throughout country.

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