March 15, 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Tuesday has approved in principle the Ramzan Relief Package- 2022, involving a subsidy of Rs8.2 billion for the whole population of the country rather than only 20 million households registered with Ehsaas Rashan Riyat Programme with directions to frame procedural mechanism for limiting the interventions by each family.
The summary for the Ramzan Relief Package was tabled by the Ministry of National Food Security & Research.
Furthermore, the Ministry submitted a summary regarding intervention price for Cotton 2022-23 Crop. To revive cotton production in the country, bring stability in the domestic market and assure a fair return to the farmers, the ECC allowed Rs5,700/40 kg threshold intervention price of seed cotton.
The ECC further allowed to initially procuring two million bales of cotton at intervention price with the direction that quantity would be reviewed on monthly basis.
ECC approved a Technical Supplementary Grant amounting to Rs200 million to the Pakistan Military Accounts Department (PMAD) for conversion of Pensioners to Direct Credit System.
ECC also approved a Technical Supplementary Grant of Rs35,00 million in favour of the Higher Education Commission for the Project titled “Pak University of Engineering and Emerging Technologies (PUEET).
Federal Minister for Finance and Revenue Mr Shaukat Tarin presided over the ECC meeting.
