The Economic Coordination Committee (ECC) of the Cabinet on Wednesday allowed Trading Corporation of Pakistan to sell balance lint cotton stock available with them on retail daily basis at minimum of the KCA spot rate for the day through commission agent(s) whose services may be hired by TCP through open tender.
The ECC also approved the proposals of the Ministry of Water and Power to allow WAPDA to raise commercial financing of Rs 144 billion for the Dasu-I project, and Rs 100 billion for the Neelum Jehlum Hydropower Project, from local banks through conventional/ Islamic mode of financing under government guarantees.
The ECC considered and approved a proposal of the Ministry of National Food Security & Research for the payment of Rs 1.4 million to the transportation company, M/s Mercedes Cargo Services because of supply of wheat to Afghanistan. The proposal had been submitted in wake of a court judgment in the matter.
On a proposal from the Privatisation Commission, ECC approved grant of two months salaries to Pak Steel Mills employees.
The Committee also accorded approval to the proposals of Ministry of Petroleum & Natural Resources relating to setting up of subsidiaries for import of LNG and construction of second LNG Terminal.
ECC also set up a committee to review the legal requirements in that regard.
