A Technical Supplementary Grant, worth 40 billion rupees, has been approved by the Economic Coordination Committee of the Cabinet against various approved projects of Defence Services and for subsidies and miscellaneous expenditures during the current fiscal year.
According to the media reports, the Economic Coordination Committee of the Cabinet has approved the Technical Supplementary Grant during a meeting in Islamabad today (Thursday, September 7) with Caretaker Minister for Finance, Revenue and Economic Affairs Dr. Shamshad Akhtar in the chair.
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During the meeting, it was decided that the amount would not be released at once but on a case-to-case basis. After detailed discussion and deliberation, the committee decided to constitute a separate committee for the assessment of the restructuring plan of PIA.
The ECC meeting also decided that the Finance Division and the State Bank of Pakistan will support PIA to tackle its financial challenges after a concrete plan of restructuring is finalized and submitted to the satisfaction of the Committee.
