ISLAMABAD (Online): The Economic Coordination Committee of the Cabinet (ECC), which met under the chairmanship of Mr. Shaukat Tarin, Adviser to Prime Minister on Finance at the Prime Minister Secretariat here today, accorded permission for the establishment of 16-20 hydel projects on River Gilgit as IPP.
The ECC also considered the tabled items of making amendment in the 1995 Hydel Policy and decided that all actions thereto may be completed within a period of one month, besides approving the summary of the Ministry of Petroleum and Natural Resources relating to fixation of CNG prices recommended by OGRA.
The ECC accorded its approval to the proposal relating to financial support for the Bank of Punjab under Credit Guarantee Scheme for small banks, and recommended that the proposal for improving conventional farming practices through provision of farm machinery to farmers/service providers may be considered afresh and brought back to the ECC after further diligence and observing the prescribed procedure.
The summary of Ministry of Food and Agriculture relating to Pakistan Accelerating Economic Transformation Programme of Asian Development Bank was approved by the ECC, besides floating the proposal for hedging of oil prices to be finalized at the earliest. In this regard a full-fledged presentation was directed within two weeks time.
The ECC reviewed the key economic indicators and expressed satisfaction that the consumer price index has come down by 14.39%, expressing its satisfaction on the availability of food stock in the country which stood at, 3,842.6 (ooo tones), sugar-2.445 (million tones) and fertilizer-237, 066 m/tons.
It also further considered the proposal for monthly and quarterly review of gas prices but did not find it feasible for adoption.