ISLAMABAD: The Economic Coordination Committee (ECC) on Tuesday) approved a summary of Aviation Division for provision of funds to meet emergent liabilities of the Roosevelt Hotel Corporation.
The meeting, chaired by Finance Minister Shaukat Tarin, directed to exercise due diligence in meeting emergent liabilities and submit utilization reports. The Committee also directed to engage a world-class consultant to meet the financial and operational challenges faced by Roosevelt.
Furthermore, the ECC also approved a Technical Supplementary Grant of Rs 215 million for the Election Commission to hold local elections in cantonment boards. The money was allocated for local government elections in Cantonment Boards, thereby enabling the ECP to perform its constitutional obligations.
The ECC also approved a TSG amounting to Rs50,100 million for extending rupee cover against financing by the Asian Development Bank (ADB) of US $300 million for the procurement of COVID-19 vaccines and ancillary goods and services.
The ECC meeting was attended by several federal ministers including Minister for Privatisation Muhammad Mian Soomro, Minister for National Food Security & Research Syed Fakhar Imam, and Minister for Maritime Affairs Syed Ali Zaidi.
The Adviser to the PM on Commerce Abdul Razak Dawood, Federal Secretaries, Chairman Federal Board of Revenue (FBR), and Chairman Securities and Exchange Commission of Pakistan (SECP) also participated in the meeting.
Governor State Bank of Pakistan, Dr Reza Baqir joined the meeting through a video link, the statement added.
