Approval to introduce loan scheme for low income earners

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the introduction of Credit Guarantee Trust Scheme to provide loans to low income earners.

According to the details, the Economic Coordination Committee meeting of the Cabinet was held under the chairmanship of Federal Finance Minister Ishaq Dar. In which the economic situation of the country and various projects were discussed in detail.

The ECC approved the introduction of Credit Guarantee Trust Scheme to provide loans to low-income earners while also approving a technical supplementary grant of Rs 93.44 billion for settlement of payments to government-owned power plants. This amount will be paid in three installments of 31.15 billion rupees.

The Economic Coordination Committee has also approved fixing the minimum price of various types of tobaccos while the regulatory duty on sodium carbonate import has been approved to be reduced from 20% to 10%.

The ECC has approved the imposition of five percent regulatory duty on the import of filament yarn while reducing the price of electricity for agricultural tube wells from Rs 16.60 per unit to Rs 13 per unit under Kisan Package for the convenience of farmers. gave Which will be applicable from November 1, 2022.

The ECC has also approved providing a supplementary grant of two billion rupees to the Ministry of Information and Broadcasting for flood awareness campaign.

In the meeting, the Ministry of Housing and Works was also approved to provide a supplementary grant of Rs. 25 crore for the construction of underpass in Gojra district Toba Tek Singh and Rs. 14.42 lakh for development schemes in Dera Ismail Khan.