Rs250m okayed for repair of SC building, judges’ residences

ISLAMABAD: Amid the increasing tension between the government and the highest judiciary of the country, the government on Thursday granted approval of Rs250 million for the repair and maintenance of the Supreme Court of Pakistan building, judges’ residences, rest houses & sub-offices in various cities.

The Economic Coordination Committee of the Cabinet (ECC) also approved the provision of 20,000 metric tons of sugar by the Pakistan Sugar Mills Association (PSMA), Punjab zone, at the price of Rs95 per kg for Ramazan in order to curb a surge in domestic prices and jacking up loan guarantee for the Pakistan International Airlines.

Federal Minister for Finance and Revenue Senator Muhammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet on Thursday. The Ministry of Industries and Production submitted a summary on financing facility for Electric Bikes (E-bikes) and E-Rickshaws and presented details on viability, demand of electric bikes and incentive structure for potential users to make electric bikes affordable.

In order to create a quick and sustainable demand of E-Bikes/Rickshaws in the country, the ECC after discussion approved Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS) model for E-Bikes/E-Rickshaws.

Under the scheme, clean loan upto Rs0.5 million will be given under Tier-I (T1) of PMYB&ALS at 0% markup rate for repayment in three years. This facility will be available for upto 15,000 E-Bikes/Ricksaws in the current financial year. The modalities of the scheme will be worked out by the Ministry of Industries & Production in coordination with PMYB&ALS.

The ECC considered and approved summary of Ministry of Commerce regarding declaration of Customs Station Angoor Adda as authorised export land route to Afghanistan and through Afghanistan to Central Asian Republics.

The ECC considered a summary of Aviation Ministry and approved increase in GoP guarantee related to USD denominated loans of PIACL to the tune of Rs15,607,394,711/- by enhancing the existing guarantee limit of Rs247.630 billion to Rs263.237 billion.

The Ministry of National Food Security and Research tabled a summary on price of sugar during the month of Ramazan and briefed the meeting on the outcome of Sugar Advisory Board’s meeting with PSMA regarding retail price of sugar. The ECC endorsed the decisions of the meeting that PSMA Punjab Zone has agreed to provide 20,000MT of sugar at retail price of Rs95 per kg during the month of Ramazan (till Eid-ul-Fitr) for sale to general public through the government of Punjab at district level.

The ECC further directed to make arrangements with other provincial PSMAs on similar pattern for provision of sugar in other provinces/areas. The ECC approved following Technical Supplementary Grants/Supplementary Grants:

i. Rs261 million in favour of Ministry of Housing and Works for execution of development scheme – Construction of railway underpass Jahanian, District Khanewal.

ii. USD 0.5 million equivalent to Rs142.5 million Rupee Cover in favour of Ministry of National Health Services , Regulations and Coordination, committed by SAARC Development Fund for standard package for strengthening preventive and curative activities for mental health and condition of Covid-19 research activities.

iii. Rs250 million in favour of the Ministry of Housing and Works for repair & maintenance of the Supreme Court of Pakistan building, judges’ residences, rest houses & sub- offices in various cities.

iv. Rs22 million in favour of Ministry of Foreign Affairs for payment of liabilities of electricity.