ISLAMABAD, May 15 (DNA): The Economic Coordination Committee (ECC) has
approved procurement of 5.15 million tons of wheat target with financial
limit of 158.5 billion rupees this year.

The ECC, which met in Islamabad on Wednesday with Prime Minister’s
Adviser on Finance Dr Abdul Hafeez Shaikh, also approved additional
supply of 150 MW of power through National Grid to K-Electric to address
power shortage in Karachi.

The Committee approved additional subsidy amounting to 1.8 billion
rupees to Tribal Electric Supply Company (TESCO) for the month of
Ramazan to provide additional power supply to the seven tribal agencies
of ex-FATA. The Power Division informed that the government has been
paying the electricity bills of domestic consumers of former tribal
agencies through a subsidy of 1.3 billion rupees per month.

ECC acceded to the proposal of Earthquake Reconstruction and
Rehabilitation Authority by granting tax exemption to the projects being
constructed under Saudi Fund for Development Grant.

It waived off Karachi Port Trust’s storage charges on the consignments
of rice to be distributed among the needy people by a non-profit welfare
organization working for the poor and needy people of the country.

The Committee also approved Technical Supplementary and Supplementary
Grants for different Ministries and Divisions.