ECC approves revised features of SME Asaan Finance Scheme

August 09, 2023 (MLN): The Economic Coordination Committee (ECC) of the Cabinet assessed the summary for the SME Asaan Finance (SAAF) Scheme and subsequently approved the proposed revised features of the scheme along with its budgetary impact as proposed by the State Bank of Pakistan (SBP) in its meeting held on Tuesday, a press release issued on the same day stated.

The summary of the SAAF scheme was tabled by the Finance Division.

The committee reviewed a summary submitted by the Pakistan Atomic Energy Commission regarding the issuance of a GoP Guarantee for Chashma Nuclear Power Project Unit -5 (C-5).

ECC decided to allow the issuance of a gradual sovereign Guarantee for the Chasma C-5 project within the IMF program.

The committee further assesed the summary tabled by the Ministry of National Food Security & Research for the extension of the Financial Schemes of Kissan Package 2022.

The ECC after discussion allowed an extension in the time period as per fiscal space available till December 31, 2023, to Financing Schemes of the Kissan Package including the following:

Provision of subsidies for interest-free loans for subsistence farmers in flood-affected areas, PM’s Youth Business and Agriculture Loan Scheme (PMYBALS), Markup Subsidy & Risk Sharing Scheme for Farm Mechanization (MSRSSFM), and interest-free loan to landless farmers in the flood affected areas.

The ECC also considered regarding North Waziristan District (NWD) Single Entity Export Processing Zone and decided that Mineral Lease located in Muhammad Khel for an area of 30 sq. Km (ML – 30) and an exploration lease located in Manzar Khel for an area of 101 sq. Km (EL-101) be declared as NWD Single Entity Export Processing Zone under Section 2 (k) of the EPZA Ordinance 1980.

The aforementioned summary was tabled by the Ministry of Industries & Production.

The committee also considered and approved a summary of the Ministry of Aviation on state support agreement for the outsourcing of Islamabad International Airport through international competitive bidding.

The meeting was chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, Federal ministers, state ministers, and senior officials.

Copyright Mettis Link News