Rs567 Million Grant Approved for FC Balochistan to Secure Reko Diq Project
QUETTA: The Economic Coordination Committee (ECC) of the federal cabinet has approved a grant of Rs567 million for Frontier Corps (FC) Balochistan to provide security for the Reko Diq mining project.
According to details, the grant will be provided to FC Balochistan from savings of the Ministry of Finance.
The ECC meeting also approved the formation of a committee to negotiate with the union regarding the reconstruction of the Roosevelt Hotel. In addition, the committee approved a government guarantee of $153.855 million for Pakistan International Airlines (PIA).
The ECC approved an additional grant of Rs7.797 billion for the K-IV water supply project in Karachi. The amount had previously been transferred by the Sindh government to the federal government.
The committee also approved a proposal from the Pakistan Agricultural Storage and Services Corporation (PASSCO) for the timely utilization of imported wheat. Under the approved arrangement, PASSCO’s wheat stocks will comprise 85 percent locally procured wheat and 15 percent imported wheat.
The ECC further allowed the import of petroleum products against foreign suppliers’ accounts, with customs-bonded storage facilities to be used for the imports.
The committee also approved a sale-purchase agreement for energy cooperation between Pakistan and Oman. The agreement is expected to enhance cooperation between OQ Trading and Pakistan State Oil (PSO) in the energy sector.
