ECC reviews performance of different sectors of national economy.

ISLAMABAD -- Economic Coordination Committee (ECC) has reviewed the performance of different sectors of national economy.

A meeting of Economic Coordination Committee was held in Islamabad on Monday with Adviser on Finance Hafeez Sheikh in the chair.

The meeting reviewed performance of different sectors of the national economy. A technical supplementary grant of six billion rupees for Utility Stores Corporation was discussed in the meeting.

Other important proposals, including exemption of sales tax on cottonseed oil cake and technical supplementary grant of 7.9 billion rupees were also reviewed in the meeting.

Economic Coordination Committee of the Cabinet approved a technical supplementary grant equal to Rs 4.05 billion funds lapsed during the financial year 2018-19 under the Sustainable Development Goals Achievement Programme (SAP).

The re-allocated funds would be used under the SAP to make specific interventions as per demand of the community across the country in line with the UN Conventions.

The ECC also granted ex-post facto approval to a proposal by the Ministry of Interior for a technical supplementary grant amounting to Rs 100 million on making security arrangements in the federal capital in October 2019.

However, the ECC expressed its concern at the manner in which ad hoc arrangements were made which were costly and disruptive for business sector and for perception of the country, and asked the capital administration to find a permanent solution to deal with the issue in future.

The ECC also approved a proposal by the Ministry of Industries and Production for utilization of the subsidy as approved by the Cabinet in pursuance of the Prime Minister's directive dated 8th November 2019 involving grant of Rs 6 billion for the Utility Stores Corporation (USC) of Pakistan for subsidy and procurement of essential commodities, including flour, sugar, ghee/oil, pulses and rice.

The ECC also constituted a committee headed by Abdul Razak Dawood...