The Economic Coordination Committee (ECC) of the Cabinet Monday reduced the DAP fertilizer price from Rs 13,750 per bag to RS 11,250 for the Kissan, reported 24NewsHD TV channel.
Minister for Finance Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee in Islamabad that also approved the Kissan package as proposed by the Ministry of National Food Security and Research submitted on Kissan Package-2022.
Inter-alia the package includes enhancement of agriculture loan disbursement from 1,419 billion to 1,802 billion, and interest-free loans to convert three lac tube wells to solar.
Ministry of Petroleum submitted a summary on High Speed Diesel/Gas Oil premium and shared that the demand for HSD has been substantially increased due to the ongoing sowing season and rehabilitation efforts after the floods in the country.
The forum also considered the summary of Ministry of Energy, Power Division on standardized security package agreements for large-scale solar PV projects for substitution of expensive imported fossil fuels-based power generation under the framework and approved the summary except special payment mechanism and quarterly indexation as was proposed in the Summary.
The ECC after detailed discussion approved proposal of Finance Division for revision and renaming of Prime Minister’s Kamyab Jawan-Youth Entrepreneurship Scheme as Prime Minister’s Youth Business & Agriculture Loan Scheme with a view to make it more purposeful and beneficial for small businesses and agriculture. New components of interest-free microloans and agriculture loans have been added to the new scheme.
The ECC approved the summary of the Ministry of National Health Services, Regulations for technical Supplementary Grant as rupee cover for the remaining amount of ADB Financing Agreement of USD 12.20 million equivalent to Pakistani Rupee 2,928 million (out of USD 500 million committed by ADB), for procurement of COVID-19 vaccine and discharging liability of COVID-19 campaign during the current financial year 2022-23.