BUSINESS

ECC TACKLES SUBSIDY REDUCTION PLAN

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday endorsed on a fundamental level first period of the appropriation justification plan with evaluations of about Rs488 billion yearly reserve funds.

The gathering directed by Finance Minister Hafeez Shaikh conceded two other basic issues — import of extra 380,000 tons of wheat and Rs739bn Karachi Transformation plan.

The ECC endorsed all in all the proposed first period of appropriations legitimization plan introduced by the Subsidy Cell drove by SAPM on Revenue Dr Waqar Masood Khan, which recommended that usage of proposed measures, could give a yearly saving of about Rs488bn. Dr Khan in his introduction covered power, food and public reserve funds during the main stage.

The ECC valued the nitty gritty arrangement and its different parts and coordinated that significant divisions — power, public food security and account — concoct extensive synopses individually with explicit and ­concrete recommendations as needed under the standards of business proposing a path forward.

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