ISLAMABAD:Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet, here on Thursday.
Ministry of Industries and Production submitted a summary regarding financing facility for electric bikes (E-bikes) and E-Ricksaws and presented details on viability, demand of electric bikes and incentive structure for potential users to make electric bikes affordable.
In order to create quick and sustainable demand of E-Bikes/Rickshaws in the country, the ECC after discussion approved Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB and ALS) model for E-Bikes/E-Rickshaws, says a press release.
Under the scheme, clean loan upto Rs. 0.5 million will be given under Tier-I (T1) of PMYB and ALS at 0% markup rate for repayment in three years. This facility will be available for upto 15000 E-Bikes/Ricksaws in the current financial year.
The modalities of the scheme will be worked out by the Ministry of Industries and Production in coordination with PMYB and ALS.
The ECC considered and approved summary of Ministry of Commerce regarding declaration of Customs Station Angoor Adda as authorized export land route to Afghanistan and through Afghanistan to Central Asian Republics.
The ECC considered a summary of Aviation Ministry and approved increase in GoP guarantee related to USD denominated loans of PIACL to the tune of Rs15,607,394,711/- by enhancing the existing guarantee limit of Rs. 247.630 billion to Rs. 263.237 billion.
Ministry of National Food Security and Research tabled a summary on price of sugar during the month of Ramdan and briefed the meeting on outcome of Sugar Advisory Board’s meeting with PSMA regarding retail price of sugar.
The ECC endorsed the decisions of the meeting, that PSMA Punjab Zone has agreed to provide 20,000 MT of sugar at retail price of Rs95 per kg during the month of Ramdan ( till Eid-ul-Fitar) for sale to general public through the Government of Punjab at district level.
The ECC further directed to make arrangements with other provincial PSMAs on similar pattern for provision of sugar in other provinces/areas. The ECC approved several Technical Supplementary Grants.
