Daily The Business

ECC directs for gas and power connections to economic zones

ISLAMABAD: A meeting of the Economic Coordination Committee (ECC) on Monday directed the power and petroleum divisions to provide gas and power connections to special economic zones within one month.

The meeting of the ECC chaired by Minister of Finance Asad Umar discussed a two-point agenda in its session.

An official of the Board of Investment given a briefing on the Economic Zones to the cabinet committee.

The meeting directed the federal government’s power and petroleum division to submit a report on the requirement of gas and electricity to the ECC within one month.

The ECC also approved 833 million rupees funds for the Machine Tool Factory.

According to the agenda of the ECC session, the cabinet body would also discuss the ways to provide job opportunities to the workers in overseas and devise a strategy for better wages.

It will also review the economic statistics and other issues related with the economy.

The ECC in its previous meeting last week approved issuance of Sukuk bonds to repay circular debt.

According to the decision of the committee the government will issue two billion rupees Sukuk bonds.

The Sukuk bonds will be released through a consortium of Islamic banks.

The circular debt of the energy sector has soared to 1400 billion rupees.

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