ECC okays funds for ECP, Roosevelt Hotel, vaccine purchase

ISLAMABAD: A meeting of the Economic Coordination Committee (ECC) with Finance Minister Shaukat Tarin in the chair approved Tuesday grants for the Election Commission of Pakistan, Roosevelt Hotel and purchase of Covid-19 vaccine.

The Aviation Division moved a summary calling for provision of funds to meet “emergent liabilities” of the Roosevelt Hotel Corporation (RHC), including payment of local taxes and utilities.

PIA-IL requested the ECC to utilise $10 million available with the National Bank of Pakistan (NBP) to clear the immediate financial liabilities. After due deliberation, the ECC approved the summary with a direction to exercise due diligence in meeting emergent liabilities and submit utilisation report.

The committee also issued directives for engaging a world class consultant to meet the financial and operational challenges faced by the hotel. It approved a technical supplementary grant (TSG) amounting to Rs215 million for the Election Commission of Pakistan for holding local government elections in cantonment boards.

The ECC also accorded approval for a technical supplementary grant (TSG) amounting to Rs50,100 million for extending rupee cover against financing by the Asian Development Bank (ADB) of US$300 million for procurement of COVID-19 vaccine and ancillary goods and services.