Islamabad, May 08, 2023 (PPI-OT): Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet, today. Federal Minister for Power Mr. Khurram Dastgir Khan, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Climate Change Senator Sherry Rehman, Mr. Shahid Khaqan Abbasi MNA/Ex-PM, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, SAPM on Finance Mr. Tariq Bajwa, SAPM on Revenue Mr. Tariq Mehmood Pasha, Federal Secretaries and other senior officers attended the meeting.

The ECC considered and approved a summary of the Ministry of National Health Services, Regulations and Coordination regarding fixation of Maximum Retail Prices of four (04) new Cardiac Stents recommended by National Price Fixation Committee for Life Saving medical devices. The ECC further approved following two summaries of Ministry of Energy (Petroleum Division):

i. Grant of additional (free) area of 15.88 Sq Kms in Soghri Exploration License on the basis that a geological structure which is extending into free area in the Northern part of Soghri E.L.

ii. Grant of 6 months of Extended Well Testing over Qabul-2 St-1 discovery in Khipro Exploration License w.e.f 22-02-2023.

The ECC also considered and approved following Technical Supplementary Grants:

i. Rs. 13, 200, 000, 000 /- in favour of Pakistan Mortgage Refinance Company Limited (PMRCL) equivalent to US$ 50 Million to be obtained from the World Bank as 1st Tranche of Credit Line of US$ 85 Million.

ii. Rupee Cover of Rs.7, 840 Million against an amount of US$ 33.1 million for World Bank funded Financial Inclusion and Infrastructure Project (FIIP).

iii. Rs. 8.4 billion in favour of Ministry of Foreign Affairs to meet its shortfall in annual budget for the current financial year 2022-2023.

iv. Rs. 5000 Million in favour of Ministry of Housing and Works for the current financial year 2022-2023 for execution of development schemes of Ex-FATA.

The ECC noted the presentation given by the Naya Pakistan Housing and Development Authority (NAPHDA) on its mandate and performance since its formation and directed to review its model and submit a summary on its future needs.

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