ECC extends Kissan package till end of 2023

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet allowed an extension in the time period to Financing Schemes of the Kissan Package till the end of the year, ARY News reported on Tuesday.

The meeting, chaired by Finance Minister Ishaq Dar, considered a summary presented by the Ministry of National Food Security & Research for the extension of the Financial Schemes of Kissan Package 2022.

The ECC allowed an extension in the time period as per fiscal space available till December 31, 2023, to Financing Schemes of the Kissan Package.

The schemes include:

Provision of subsidy for interest-free loans for subsistence farmers in flood-affected areas.

PM’s Youth Business and Agriculture Loan Scheme (PMYBALS)

Markup Subsidy & Risk Sharing Scheme for Farm Mechanization (MSRSSFM)

Interest-Free Loan to landless farmers in flood-affected areas.

Meanwhile, the Finance Division submitted a summary regarding the SME Asaan Finance (SAAF) Scheme for consideration by the ECC. The ECC approved the proposed revised features of the scheme and its budgetary impact as proposed by the State Bank of Pakistan.

The committee considered a summary of the Ministry of Industries and Production regarding urea fertilizer requirement for Rabi season 2023-24.

Considering the recommendations given by Fertilizer Review Committee (FRC), the committee decided that the SNGPL-based plants i.e. Fatima Fertilizer (Sheikhupura) and Agritech may be allowed to operate till October 15, 2023.

A summary submitted by Pakistan Atomic Energy Commission regarding the issuance of GoP Guarantee for Chashma Nuclear Power Project Unit -5 (C-5).

The ECC decided to allow the issuance of gradual sovereign Guarantee for Chasma C-5 project within IMF program.

The ECC also considered a summary of the Ministry of Industries & Production regarding North Waziristan District (NWD) Single Entity Export Processing Zone.

It was decided that Mineral Lease was located in Muhammad Khel for the area of 30 Sq. Km (ML – 30) and Exploration Lease located in Manzar Khel for area of 101 Sq. Km (EL-101) be declared as NWD Single Entity Export Processing Zone under Section 2 (k) of the EPZA Ordinance 1980.

The ECC also considered and approved a summary of the Ministry of Aviation on state support agreement for the outsourcing of Islamabad International Airport through international competitive bidding.