Islamabad : Adviser to the Prime Minister on Finance and Revenue chaired the meeting of the Economic Coordination Committee of the Cabinet (ECC) here at the Cabinet Division.

ECC was given an update on the issue of the Roosevelt Hotel, as directed by the Adviser Finance in an earlier meeting. The Adviser directed that the issue should be handled in fair and most transparent manner and in the best national interest. He directed that all stakeholders including Secretary Aviation should be included in every discussion/ negotiation related to the issues of the Roosevelt Hotel. Chairman ECC further directed that it should be made clear to all that in this transaction all matters shall be resolved in a manner that is only in favor of the country and not benefitting any individual or party.

ECC approved the technical supplementary grant equivalent to Rs.252.382 million for the discharge of liabilities related to M/s Karkey arbitration.

Procurement of 83 X Micron sprayers for anti-locust operation was allowed by ECC to National Disaster Management Authority with the grant of special exemption of taxes and duties of import.

On a proposal pertaining to the taxation issues related to the telecom sector ECC decided that proposal may be submitted in the next ECC after thorough deliberation of its impact on already in vogue taxation policies, by FBR, Ministry of Commerce and Ministry of Industries.