Islamabad: A meeting of the Economic Coordination Committee of the
Cabinet (ECC) was held here Monday under Finance Minister, Asad Umar, in the chair.
The ECC approved the proposal of Communication Division to provide
Technical Supplementary Grant amounting to Rs.500 million for the
construction of Additional Carriageway on Torkham-Jalalabad Road under
Prime Minister’s Program for Reconstruction of Afghanistan. The decision of
ECC would not only benefit the people and business community of the two
neighbouring countries but would also help promoting trade between Pakistan
and Afghanistan as well as Central Asian States.
The Revival Committee on Pakistan Steel Mills Corporation gave
a comprehensive presentation to the Committee proposing various
recommendations to make Pakistan Steel Mill a profitable and competitive
organization. The Committee directed that Industries and Production
Division and Privatization Commission to submit formal recommendations, in
the form of summary, to ECC for a final decision.
The ECC expressed its deep concern over the increase in prices of medicines
and food items, and directed Ministries of National Food Security &
Research and National Health Services, Regulations and Coordination to take
practical measures to arrest the current trend of rise in prices. Petroleum
Division briefed the Committee on the status of recoveries of Gas
Infrastructure Development Cess (GIDC) for different industrial sections.
The Committee was informed about the litigation in different courts of Law,
which had inhibited the collection of revenue during the recent years.