ECC rolls over Rs352bn of Covid-related stimulus package

The Economic Coordination Committee (ECC) on Wednesday rolled over Rs352 billion of the Covid-related Economic Stimulus Package to the current fiscal to meet various expenditures, including procurement of vaccinations, and deferred approval of the five-year strategic trade policy framework.

The meeting of the ECC presided over by Finance Minister Shaukat Tarin also discussed the intervention price for cotton at a belated stage but could not make a final decision though the crop is at the last leg of sowing.

Apart from Mr Tarin, only two out of 14 ECC members attended the meeting.

The Finance Division tabled a summary to carry forward for FY2021-22 the unutilized cash component amounting to Rs352bn out of the Rs1.24 trillion Economic Stimulus Package announced in March 2020 at the start of Covid-19 to mitigate the adverse socio-economic impact of the pandemic and to support the marginalized sections of the society.