ECC forwards PIA restructuring plan to Cabinet

 April 8, 2021: The Economic Coordination Committee (ECC) of the cabinet on Wednesday decided that the restructuring plan of the Pakistan International Airlines Corporation Limited (PIACL) will be taken to the federal cabinet for a thorough discussion and approval.

The Aviation Division submitted a summary before the ECC regarding the restructuring plan of the Pakistan International Airlines Corporation Ltd (PIACL). After a detailed discussion, the ECC recommended that the PIACL’s restructuring plan be submitted to the Cabinet after reconciliation of tax liability figures, with a direction to place a cap on future debt which the PIACL could take against its improved balance sheet, once the restructuring plan is implemented

In addition to this, the Economic Coordination Committee of the cabinet has also approved Technical Supplementary Grants worth over 4.55 billion rupees for various projects.

The ECC approved 330 million rupees for the Ministry of Defence for the maintenance of aircraft. It approved 2.382 billion rupees for Prime Minister's Special Package to implement the “Skill for All” strategy for the Technical and Vocational Education and Training sector.

Rupees one billion were approved to refund the balance amount of funds of Insaf Imdad Ehsas Program, 382.280 million rupees for the Ministry of Energy for completion of development schemes of Sindh and Balochistan under the Public Sector Development Programme, and 150 million rupees for the Ministry of Housing and Works for funding civil works on different schemes in Balochistan, under PSDP.

The ECC approved 30 million rupees for the Board of Investment for different operational expenses and 280 million rupees for consultancy and implementation of Internet voting.

Copyright Mettis Link News

Posted on: 2021-04-08T11:05:00+05:00

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