ECC approves Rs20bn guarantee for NIT investment

[ahlam1399]

By News DeskISLAMABAD: The federal cabinet’s Economic Coordination Committee (ECC) has approved a Finance Division proposal authorising the government to issue a 20 billion-rupee sovereign guarantee for investment in the National Investment Trust (NIT) State Enterprise Fund.“The step has been taken to stabilise the stock market of the country,” a press release said following the ECC meeting which was chaired by Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Hafeez Shaikh.Meanwhile, the Ministry of National Food Security and Research Secretary updated the committee about the wheat situation in the country. He said the country was in a comfortable position with 7.2 million tonnes of wheat available in stock.Ministry of Maritime Affairs suggested various proposals on the revival and development of shipping industry in Pakistan. The committee noted the proposals and advised the ministries of Petroleum and Maritime Affairs to jointly come up with a comprehensive proposal in the next ECC meeting to introduce a dynamic shipping policy focusing on expansion and development of the local shipping industry.The ECC also acceded to the proposal of Ministry of States and Frontier Regions to grant Rs781,591,000 to arrange 20,000 metric tonnes of wheat for temporarily displaced persons of erstwhile Fata.http://feeds.feedburner.com/~r/com/cwEr/~4/Rvxni3X8NHg

أكثر... (http://feedproxy.google.com/~r/com/cwEr/~3/Rvxni3X8NHg/478440-ecc-approves-rs20bn-guarantee-for-nit-investment)