ECC gives nod for extending Defence Credit Line Facility of $50mln to Sri Lanka

Islamabad: The Economic Coordination Committee (ECC) of the Cabinet has given principal approval for extending the Defence Credit Line Facility of 50 Million dollars to Sri Lanka to enhance bilateral defence and security cooperation.

The meeting of ECC was held on Thursday with Minister for Finance and Revenue Shaukat Tarin in the chair.

The meeting also approved duty and tax exemption to products and goods including oxygen gas, oxygen gas cylinder and cryogenic oxygen tanks for health sector up to June 2022 to cope with the fifth wave of Covid in the country to ensure uninterrupted supply of oxygen.

Approval was also given for expansion of Kamyab Pakistan Programme throughout Pakistan in the meeting.

The forum approved the cost estimates for import of Urea amounting to 12.345 billion rupees on cost sharing basis among the Federal and Provincial Governments on 50:50 basis.