ISLAMABAD: – Finance Minister Asad Umar on Tuesday in Islamabad presided over a meeting of the Economic Coordination Committee (ECC) of the cabinet to examine a six-point agenda.
Reportedly, the ECC analysed financial affairs of the Pakistan International Airlines (PIA) and approved a plan for enhancing production of cotton during this Kharif.
The meeting decided to formulate and implement effective measures for the expansion of the research and development sector, and collaboration with China to increase cotton yield.
Furthermore, the meeting approved an additional guarantee of Rs 5.6 billion for the PIA for maintenance of engines and acquisition of related spares to operationalize grounded aircraft.
Besides, the meeting reviewed a course of action for issuing petroleum products’ marketing licenses.
The meeting also analysed the progress in implementation of decisions taken in its previous meeting.
The ECC considered a summary sent by the maritime division for necessary amendments and exemptions required for the Gwadar port and free zone.