Key Highlights :
1. The Cabinet approved a model for a youth business and agriculture loan scheme for electric bikes and e-rickshaws.
2. The scheme will provide clean loans of up to Rs. 0.5 million under Tier-I of the scheme at a 0% markup rate for repayment in three years.
3. The modalities of the scheme will be worked out by the Ministry of Industries and Production in coordination with PMYB&ALS.
4. The ECC considered and approved a summary of the Ministry of Commerce regarding the declaration of Customs Station Angoor Adda as an authorized export land route to Afghanistan and through Afghanistan to Central Asian Republics.
5. The ECC considered a summary of the Aviation Ministry and approved an increase in the GoP guarantee related to USD denominated loans of PIACL to the tune of Rs. 15,607,394,711/- by enhancing the existing guarantee limit of Rs. 247.630 billion to Rs. 263.237 billion.
6. The Ministry of National Food Security and Research tabled a summary on price of sugar during the month of Ramazan and briefed the meeting on the outcome of the Sugar Advisory Board’s meeting with PSMA regarding the retail price of sugar.
7. 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 Rs. 95 per kg during the month of Ramazan (until Eid-ul-Fitar) for sale to the general public through the Government of Punjab at district level.
8. The ECC further directed to make arrangements with other provincial PSMAs on similar pattern for provision of sugar in other provinces/areas.
9. The ECC has approved Technical Supplementary Grants/Supplementary Grants of Rs. 261 million in favour of the Ministry of Housing and Works for execution of development schemes – Construction of railway underpass Jahanian, District Khanewal.
10. The meeting has also approved Technical Supplementary Grants of USD 0.5 million equivalent to Rs. 142.5 million Rupee Cover in favour of the Ministry of National Health Services , Regulations and Coordination, committed by SAARC Development Fund for standard package for strengthening preventive and curative activities for mental health and condition of Covid-19 research activities.
11. The ECC has approved Rs. 250 million Technical Supplementary Grants in favour of the Ministry of Housing and Works for repair and maintenance of Supreme Court of Pakistan building, judges residences, rest houses & sub- offices in various cities and Rs. 22 million in favour of the Ministry of Foreign Affairs for payment of liabilities of electricity.
Islamabad, Pakistan - The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS) model for E-Bikes/E-Rickshaws. The scheme will provide up to Rs 2 million to eligible small and medium enterprises (SMEs) for the purchase and installation of E-Bikes/E-Rickshaws. The scheme will be implemented through the National Bank for Agriculture and Rural Development (NABARD). The ECC also approved the model for the Prime Minister’s Women Entrepreneurship Development Programme (PMWEDP). The scheme will provide up to Rs 2 million to eligible women entrepreneurs for the purchase and installation of E-Commerce and E-Business Solutions. The scheme will be implemented through the Pakistan Economic Development Corporation (PEDCO). The ECC also approved the Prime Minister’s Credit Facilities for Micro, Small and Medium Enterprises (PMCFFME) scheme for the provision of credit up to Rs 10 million to eligible micro, small and medium enterprises. The scheme will be implemented through the National Bank for Agriculture and Rural Development (NABARD). The ECC also approved the Prime Minister’s Credit Facilities for Women Entrepreneurship Development Programme (PMWEDP) scheme for the provision of credit up to Rs 10 million to eligible women entrepreneurs. The scheme will be implemented through the Pakistan Economic Development Corporation (PEDCO).
