ECC also approves mechanism to retire Rs200b circular debt

Decline comes due to partial suspension of economic activities due to Covid-19

The money will be used to service maturing external public debt

Finds fault with disbursement mechanism which PM aide says lacks transparency

Move comes after inflow of hot foreign money proved costly

Faces resistance to withdrawing concessions on foreign currency accounts

Global lender restores Pakistan's budgetary support after four years

Aims to encourage domestic production to counter security threat

ECC allows diversion of Rs10b; approves terms of negotiations for debt restructuring to reduce electricity tariffs

Savings ratio improves on back of improvement in external account