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HomeWorldPakistanIssuing ECC Orders of 25,000 rupees per family in disaster-affected areas

Issuing ECC Orders of 25,000 rupees per family in disaster-affected areas

— cash will spread in affected areas with poverty score of up up to 32

ISLAMABAD: Economic Coordinating Committee (ECC) of The Cabinet of Ministers instructed BISP to pay 25,000 Pakistani crowns per family. in areas affected by natural disasters. Meeting of EC was chaired by of Finance minister Miftah Ismail on Tuesday.

According to the Ministry of Fight against poverty and social safety submitted a summary for emergency cash help for affects of ongoing floods. It drew attention to fact that unprecedented rains and flash floods across the country have resulted in in a great the loss of life and property.

AT view of above, the ECC approved the summary and instructed BISP to pay total of PKR 25,000 per family in disaster-affected areas with poverty score of up to 32. In this regard, the Finance Department will consult with BISP to discuss financial consequences and required modalities. In addition, federal government will ask the provinces to provide share in relief for affected.

Meanwhile, the ministry of The Ministry of Economy submitted a summary on G-20 Debt Service Suspension Initiative (DSSI). This debt terrain called DSSI-I, for IDA is coming countries to mitigate the socio-economic impact of Covid-19 was announced in April 2020. Currently six more debt restructuring agreements agreed and negotiated for DSSI-III with Italy, Japan and Spain. In this regard, the Committee was provided with a summary secretary EAD on on behalf of of in government.

After discussion, the ECC agreed to change the terms of the agreement proposed by EAD. on Account of deferred payments due to Covid-19.

Ministry of National Food, Security and Research submitted a summary on increase national strategic reserves of wheat. The ministry said at the meeting that in commemoration of recent rainfall and flood resulting damages financial questions of farmers for in next sowing wheat, rising local wheat prices, as well as hoarding and smuggling, the above amount is insufficient. To ensure availability of wheat across the border and to stabilize local wheat prices, it was proposed of strategic stocks of wheat can be kept at the level of 2 million tons.

ECC approved the amendment of previously decision import 3 million tons of milling and permitted wheat for maintenance of strategic reserves of wheat at the recommended level, including the amount of 0.080 Mt on Account of SAARC food bank.

In addition, TCP was instructed to organize an additional number of 0.8 Mt via G2G or open tender. It was added what import of 0.8 million tons of wheat is allowed to private sector with no subsidy clause for such import of wheat.

In addition, the FATF National Coordinating Committee on AML/CFT presented a summary for OK for activities/expenses related to on-Visit site of FATF/APG Assessors team. It was reported that the FATF team of 15 participants will visit from August 29 to September 2, 2022 in to check position of Pakistan reportedly in cycle reports. In this regard, a summary for distribution of TSG of They handed over 7 million rubles. The ECC has approved this summary.

Ministry of Communication submitted a summary for Extension of time complete in business plan of NHA from June 30, 2022 to September 30, 2022 It has been reported that the NHA already general information with ADB consultants for preparation of in business plan of NHS. However, extra time required to complete same. This summary has been approved by the ECC after careful deliberation. with a provision that no further extension is granted. In the event of a request for a further extension, the Finance Department start interest deduction on Development Cash Loans (CDL).

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Sandra Loyd
Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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