Pakistan

ECC approves port charges waving for Turkish company Karkey

ECC approves port charges waving
ECC approves port charges waving for Turkish company Karkey during its meeting today.

Economic Coordination Committee made this approval in a meeting in Islamabad. Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh chaired.

ECC approves port charges waving

It approved waiving off all port dues and charges amounting to Rs 194.951 million. It accrued against Turkish company, Karkey, on 31st of this month or till the vessels leave the port. 
Government of Pakistan and Karkey Company had reached a settlement agreement. They required waiver due to that the deal.
Meanwhile, ECC approved the release of Rs 350 million for the partial settlement of the SSGC liability.

It also approved establishment of Trust Fund to implement risk sharing facility under 3rd tranche of $10 million credit line.

That came under the 3rd tranche of $140 million which Pakistan obtained from World Bank for Pakistan Mortgage Refinance Company.
The Finance Division also sought approval for the demand of Rs 80 million as Technical supplementary grant in the budget of the Finance Division for the Financial Year 2019-20.
This grant aims at providing assistance for families of the government employees who expired during service and provision of Adhoc relief allowance 2019.
The ECC also approved issuance of direction of the Federal Government to the State Bank of Pakistan to sell its shares in House Building Finance Company Limited.
The committee approved the grant of Technical Supplementary Grant amounting to Rs 100 million to National Information Technology Board.
That comes the Ministry of IT & Telecommunication for centralized procurement of ICT infrastructure to ensure e-readiness of Federal Government for the implementation of the E-governance program.

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