November 7, 2018 (MLN): Economic Coordination Committee (ECC) meeting ended under chairmanship of Finance Minister Asad Umar
During the meeting, it was decided that Pakistan Steel Mills would not be a part of privatization plan.
The committee approved salary for Pakistan Steel Mills for the month of September. It also approved Rs1 billion for widows of Pakistan Steel Mills, and release of pending amount of widows of last four months.
The Committee gave its approval on supply of gas to Agritech and Fatima Fertilizers.
The committee issued directive to prepare plan to revive Pakistan Steel Mills and requested arrangements to release salary of Pakistan Steel Mills for three months
During the meeting, it was revealed that dealers were involved in cement price hike. On this regard, directives were issued to provinces to check cement prices.
Furthermore, it was noted that PSO receivables have reached Rs320 billion. Therefore, Islamic commercial banks have agreed to fund PSO to import petroleum products by providing financing of Rs 200 billion.
ECC also approved import of another 50000 tons of urea in January 2019.
Quota of SAARC Food Bank has been increased to 80000 million tons from 40000 million tons.
Support price of wheat has been approved at Rs 1300 per mound.
