ECC approves emergency fund to fight coronavirus

ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh on Thursday chaired the meeting of Economic Coordination Committee (ECC) and approved an emergency fund to be established for tackling coronavirus outbreak, ARY NEWS reported.

The ECC meeting also approved release of Rs 5 billion to the National Disaster Management Authority (NDMA) for provision of logistics and other necessary items to deal with coronavirus outbreak.

A supplementary grant of US$532,000 for a NADRA project in FATA areas while Rs 5 billion for sustainable growth programme was also given a go-ahead by the ECC.

The Hafeez-Shaikh led meeting also gave its nod to a supplementary grant of Rs 275 million for federal housing and works ministry along with an approval for increase in electricity tariff for K-Electric consumers in terms of fuel adjustment.

The tariff for different categories will be raised by Rs 1.9 to Rs 2.89 per kilowatt. However, the notification for this increase will be issued after three months.

A committee was formed during the meeting to mull over a package on national electric vehicles policy and it was given a time frame to submit a report on the matter within a month. It would comprise of deputy chairman planning commission and officials from petroleum and other departments.

The meeting also borrowed some time to decide on losses of Pakistan State Oil (PSO) and other oil companies due to depreciation of rupee against dollar. The meeting also decided to consult the Balochistan government over LPG projects.