ECC approves Rs 380 mln salaries of Pakistan Steel Mills employees

APP68-14 ISLAMABAD: April 14 - Finance Minister Senator Mohammad Ishaq Dar chairing meeting of ECC. APP

ISLAMABAD, Apr 14 (APP): Economic Coordination Committee (ECC) approved payment of salaries amounting to Rs. 380 million for the month of January 2017 to Pakistan Steel Mills employees on compassionate grounds.
The Economic Coordination Committee (ECC) considered and approved proposals submitted by different ministries, in its meeting chaired by Finance Minister Senator Muhammad Ishaq Dar on Friday.
The ECC considered and approved the proposal from the Ministry of Finance for issuance of Letter of Comfort to National Bank of Pakistan or any other financial institution which would in turn issue Standby Letter of Credit (SBLC) for the comfort of commercial lenders of the Lahore Sialkot Motorway project.
The ECC considered and approved proposal of Ministry of Petroleum and Natural Resources for allocation of 10 mmcfd gas from Tolang Gas field to SNGPL.
The price of gas would be as per the applicable petroleum policy.
The ECC also considered and approved a proposal of the Ministry of Commerce with respect to the Prime Minister’s Package of Incentives for Exporters.
For export shipments until 31st March 2017 under the package, the ECC approved extension in deadline for submission of claims from 90 days after shipment to 120 days after shipment.
The ECC also approved inclusion of certain finished leather projects in the DLTL order under the Package.
The ECC considered a proposal of the Ministry of Petroleum regarding transportation of crude oil from Adhi Oil Field, and authorized the concerned company to deal with the transportation arrangement of crude oil from the field purely on open competition basis without any involvement of the government.