Daily Times

ISLAMABAD: The Economic Coordination Committee (ECC) on Friday approved the provision of an additional guarantee of Rs. 20 billion for Pakistan International Airlines Corporation Limited to meet expenditure for the overhauling of aircraft engines.

The meeting, which was held here at PM’s Office and chaired by Prime Minister Shahid Khaqan Abbasi, directed the Aviation Division and the Finance Ministry to ensure that the financing support approved by the ECC was strictly utilized only for the defined purpose.

The Chief Executive Officer of the PIACL briefed the meeting about the progress made so far in the efforts to turn around national flag carrier and to reduce its losses.

The ECC approved the supply of 35,000 metric tons of wheat from PASSCO to the World Food Programme for distribution amongst the Temporary Displaced Persons of FATA.

The meeting approved a proposal for introducing necessary amendments in the OGRA Ordinance 2002 to cover the entire LNG/RLNG supply chain in the OGRA regulatory framework and to remove anomalies in the dispatch, receipt and billing of RLNG volumes.

The body also approved, in principle, exemption of regulatory duties on import of fresh fruits, vegetables and dry-fruits from Afghanistan which was announced by the prime minister during his visit to Afghanistan.