ECC approves Kissan package 2022

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved the Kissan package proposed by the Ministry of National Food Security and Research.

Minister for Finance Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee in Islamabad where he gave approval to several summaries including approval of the Kissan package.

The package includes enhancement of agriculture loan disbursement from 1,419 billion to 1,802 billion, reduction in DAP price from 13,750 rupees to 11,250 rupees per bag and interest-free loans to convert three lac tube wells to solar.

Ministry of Energy, Petroleum Division submitted a summary on High-Speed Diesel/Gas Oil premium and shared that the demand for HSD has been substantially increased due to ongoing sowing season and rehabilitation efforts after the floods in the country.

The forum also considered the summary of Ministry of Energy, Power Division on standardized security package agreements for large-scale solar PV projects for substitution of expensive imported fossil fuels-based power generation under the framework and approved the summary except special payment mechanism and quarterly indexation as was proposed in the Summary.

PM SHEHBAZ SHARIF TO UNVEIL ‘HISTORIC’ KISSAN PACKAGE NEXT WEEK

The ECC after a detailed discussion approved proposal of Finance Division for revision and renaming of Prime Minister’s Kamyab Jawan-Youth Entrepreneurship Scheme as Prime Minister’s Youth Business & Agriculture Loan Scheme with a view to make it more purposeful and beneficial for small businesses and agriculture.

The meeting deferred approval of an Rs47 billion grant to Election Commission of Pakistan (ECP) for general elections.

The electoral watchdog will again forward summary for approval of the technical grant.