June 10, 2021: The Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet at the Cabinet Division yesterday.

The meeting was participated by Federal Ministers for Economic Affairs Division, Maritime Affairs, Power and Privatization along with Adviser to PM on Austerity and Institutional Reforms, Special Assistant to the Prime Minister on National Health Services, Governor State Bank of Pakistan and Federal Secretaries of various Ministries & Divisions.

ECC expressed the government’s commitment to providing $1.1billion for procurement of COVID-19 Vaccines for achieving the vaccination target (minimum 45 million and maximum 65 million) till December 2021. The ECC in its meeting of May 31st, 2021 had already approved $130 million (equivalent to Rs20bn) for procuring the vaccine for the month of June 2021. However, due to the increased target of vaccination by NCOC, another $50 million was required in addition to the already approved amount for the month of June 2021. ECC also approved the additional funds of $70mn for achieving the vaccination target for the month of June 2021. Vaccine procurement is currently the responsibility of the National Disaster Management Authority.

ECC allowed the amendments in three SROs (SRO 235 (1) 2020, 236 (1)/2020 and 237(1) 2020) dated 20th March 2020 issued by the Revenue Division to facilitate the Ministry of National Health Services, Regulation and Coordination for the import of COVID 19 medical and diagnostic equipment.

ECC approved the request of the Economic Affairs Division to proceed with the formal request for availing the G-20 Debt Relief for the extended period, July- December 2021. ECC also permitted the signing of MoUs with bilateral creditors in terms of the prevailing rules and regulations.

ECC approved the following important technical supplementary grants, including the following:

• Rs629.203mn for the Ministry of Federal Education and Professional Training for discharging the liabilities of the Prime Minister’s fee reimbursement scheme for less developed areas during the current financial year.
• Rs378mn for the Ministry of Federal Education and Professional Training for meeting its various important requirements.
• Rs1162.745mn for the Finance Division for the payment of the annual maintenance fee of System Application Product (SAP) software licenses and for purchases of SAP software licenses.
• Rs.338.637mn for the Finance Division to meet the various budgetary requirements of the Department of Auditor General of Pakistan under different heads of accounts.
• Rs350mn for the Controller General of Accounts for payments under the Prime Minister’s Package to the families of Government Employees who die in service and leave encashment.
• Rs74.135mn for meeting the marketing expenses of the incentive scheme of home remittances. The Chair directed that the impact analysis of this marketing scheme should be shared with the forum.
• Rs.505mn for Housing and Works Division for the repair and maintenance of different government buildings.
• Rs22.176mn for the Ministry of Human Rights for meeting various employee-related expenses.
• Rs37.423mn for the Industries and Production Division for meeting various expenses of Small and Medium Enterprises Development Authority.
• Rs82.8mn for the Revenue Division for meeting its various obligatory expenditures.
• Rs42.9bn for the Finance Division for ways and means advances availed by the Provincial Governments.
• Rs105.490mn for the Ministry of Narcotics Control for the clearance of loans and advances of the Shuhda and deceased officials of ANF.
• Rs2bn for the Ministry of Federal Education and Professional Training for meeting the financial requirements of the financially distressed Universities.
• Rs12.2mn for the Ministry of Climate Change to be given to the Environmental Protection Agency to meet its various expenses.

Press Release

41620