ECC approves Rs4.98 bln for implementing interest free loans program

ECC approves Rs4.98 bln for implementing interest free loans program
Islamabad: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved Rs4.98 billion for implementation of the interest free loans program by Pakistan Poverty alleviation fund.

The approval was granted at ECC meeting which met in Islamabad with Advisor on Finance Dr Abdul Hafeez Shaikh in the chair.

ECC also allocated Rs10 billion from Stimulus Package for the payment of first installment of interest and profit in respect of Pakistan Energy Sukuk-II amounting to 200 billion rupees.

It also approved technical supplementary grant amounting to 72.635 billion rupees for Power Holding Limited for onward disbursement to respective banks as and when due during the current financial year.