ECC gives approval for issuing Rs20bln Sovereign Guarantee for Investment in NIT

ISLAMABAD, May 30 (APP):The Economic Coordination Committee (ECC) of the Cabinet Thursday approved the proposal of Finance Division, authorizing the government to issue sovereign guarantee amounting to Rs20 billion for investment in National Investment Trust (NIT)-State Enterprise Fund.

The step has been taken to stabilize the stock market of the country, said a press statement issued by the Finance Minister after ECC meeting which was chaired by Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh.
Meanwhile, Secretary, Ministry of National Food Security and Research updated the Committee about the wheat situation in the country.