ECC wants fresh business, fleet expansion plans from aviation division
The ECC was informed that so far 865 decisions had been compiled which come to 89% implementation status.
IMF has expressed satisfaction as growth is picking up and economy is moving in the right direction.
ISLAMABAD:
A meeting of the Economic Coordination Committee (ECC) of the cabinet was held under the chairmanship of Federal Minister for Finance Senator Mohammad Ishaq Dar at Prime Minister’s Office on Thursday.
ECC considered five agenda items submitted by various ministries and divisions.
The ECC considered cabinet division’s report on implementation status of 968 decisions dating back to March 25, 2008 to March 16 2013, and June 6, 2013, to February 12, 2014. The ECC was informed that so far 865 decisions had been compiled which come to 89% implementation status.
The ECC, while reviewing the implementation status, expressed satisfaction over 89% compliance reports and directed the cabinet division to seek implementation report for the remaining 103 decisions which related to various federal ministries and divisions.
While considering the satisfactory implementation status of its previous decisions during the period under report, ECC directed the aviation division to submit its viable business and fleet expansion plan on fast track basis—while completing necessary consultative process with relevant GoP stakeholders.
It further directed the commerce and textile industry division to speed up the implementation of its earlier decisions taken during last month and submit a compliance report in the next ECC meeting.
The meeting was informed that CPI for the month of January declined to 7.9% as compared to 9.5% of the same month last year. Furthermore, in view of the fact that GDP has grown prominently to 5.2% in first quarter of this financial year as against 2.9% of same quarter last year, IMF has revised upward its projection of GDP growth from 2.8% to 3.1%.
IMF has expressed satisfaction as growth is picking up and economy is moving in the right direction.
The forum further considered the ministry of water and power’s summary and approved in principle, one year extension in FBR’s SRO of February 21, 2008 on the ground that NEPRA has directly determined tariff for the current year and, secondly, the burden should not be passed on to the consumers.
ECC further decided to constitute a committee comprising of secretaries ministry of finance, water and power and chairman FBR to work out modalities for the said extension.
ECC considered cabinet division’s summary for proposed amendments in the OGRA Ordinance to monitor prices of all refined oil products and decided to constitute a committee led by minister for science and technology, with secretaries’ representation from law and justice, finance and OGRA to consider fresh proposed amendments and other amendments, if any, in OGRA Ordinance before its referral to ECC for consideration of approval and subsequent placement in CCI for final decision.
It considered ministry of planning, development and reforms report on import and distribution of fertiliser but deferred consideration for want of necessary homework. It constituted a sub-committee of ECC under minister for planning and development to review jurisdictional placement of different federal government organizations after devolution (post-18th Amendment) for review on professional lines, focusing on synergy, improved governance and coordination.
The said sub-committee shall comprise of ministers and secretaries from renamed and recreated federal ministries, divisions in post- devolution governance scenario. ECC further directed the said sub-committee to complete its due deliberations and submit recommendations for improved governance and streamlined functioning of federal government organisations within three weeks.
ECC directed ministry of commerce to exhaust its earlier sugar export bracket of permission (400,000 tons) and revert to ECC for any additional extension on need basis.
A meeting of the Economic Coordination Committee (ECC) of the cabinet was held under the chairmanship of Federal Minister for Finance Senator Mohammad Ishaq Dar at Prime Minister’s Office on Thursday.
ECC considered five agenda items submitted by various ministries and divisions.
The ECC considered cabinet division’s report on implementation status of 968 decisions dating back to March 25, 2008 to March 16 2013, and June 6, 2013, to February 12, 2014. The ECC was informed that so far 865 decisions had been compiled which come to 89% implementation status.
The ECC, while reviewing the implementation status, expressed satisfaction over 89% compliance reports and directed the cabinet division to seek implementation report for the remaining 103 decisions which related to various federal ministries and divisions.
While considering the satisfactory implementation status of its previous decisions during the period under report, ECC directed the aviation division to submit its viable business and fleet expansion plan on fast track basis—while completing necessary consultative process with relevant GoP stakeholders.
It further directed the commerce and textile industry division to speed up the implementation of its earlier decisions taken during last month and submit a compliance report in the next ECC meeting.
The meeting was informed that CPI for the month of January declined to 7.9% as compared to 9.5% of the same month last year. Furthermore, in view of the fact that GDP has grown prominently to 5.2% in first quarter of this financial year as against 2.9% of same quarter last year, IMF has revised upward its projection of GDP growth from 2.8% to 3.1%.
IMF has expressed satisfaction as growth is picking up and economy is moving in the right direction.
The forum further considered the ministry of water and power’s summary and approved in principle, one year extension in FBR’s SRO of February 21, 2008 on the ground that NEPRA has directly determined tariff for the current year and, secondly, the burden should not be passed on to the consumers.
ECC further decided to constitute a committee comprising of secretaries ministry of finance, water and power and chairman FBR to work out modalities for the said extension.
ECC considered cabinet division’s summary for proposed amendments in the OGRA Ordinance to monitor prices of all refined oil products and decided to constitute a committee led by minister for science and technology, with secretaries’ representation from law and justice, finance and OGRA to consider fresh proposed amendments and other amendments, if any, in OGRA Ordinance before its referral to ECC for consideration of approval and subsequent placement in CCI for final decision.
It considered ministry of planning, development and reforms report on import and distribution of fertiliser but deferred consideration for want of necessary homework. It constituted a sub-committee of ECC under minister for planning and development to review jurisdictional placement of different federal government organizations after devolution (post-18th Amendment) for review on professional lines, focusing on synergy, improved governance and coordination.
The said sub-committee shall comprise of ministers and secretaries from renamed and recreated federal ministries, divisions in post- devolution governance scenario. ECC further directed the said sub-committee to complete its due deliberations and submit recommendations for improved governance and streamlined functioning of federal government organisations within three weeks.
ECC directed ministry of commerce to exhaust its earlier sugar export bracket of permission (400,000 tons) and revert to ECC for any additional extension on need basis.