ECC approves Pakistan’s NDB-BRICS membership, Rs27b for key initiatives

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved over Rs27 billion to ensure financial support for key initiatives.

The ECC, which met in Islamabad today (Saturday) with Finance Minister Muhammad Aurangzeb in the chair, approved a technical supplementary grant worth Rs19.15 billion for 133 schemes of the defunct Pakistan Public Works Department.

According to Radio Pakistan, it also okayed Rs5.36 billion to execute development schemes under the SDGs Achievement Programme with 4.25 billion rupees allocated for Sindh and Rs1.11 billion for Khyber Pakhtunkhwa (KP).

Punjab has become the country’s agricultural powerhouse, says army chief

The approval was also granted to an amount of Rs1.914 billion in favor of NADRA, ensuring the transition of 43 Citizen Facilitation Centers in KP.

Besides, a grant of 500 million rupees was approved for the procurement of life-saving medicines and vaccines, while Rs84 million for procurement of two Hino Coaster mini-buses and three Toyota Hiace vans to replace the outdated official transport at the President’s Secretariat.

Furthermore, the ECC approved Pakistan’s membership in the New Development Bank, established by BRICS member countries.

The committee endorsed the purchase of 5,882 capital shares in the bank, amounting to $582 million, with $116 million as paid-in capital.

The forum allowed transfer of shares of DISCOs in the name of the President of Pakistan and incorporation of an International Joint Trading Company in Singapore by Pakistan State Oil and the State Oil Company of Azerbaijan.