LAHORE - The Economic Coordination Committee of the Cabinet has approved 480.556 million rupees to pay risk allowance to all health care workers performing duties related to COVID-19 in Federal Government.

The ECC which met in Islamabad Wednesday with Prime Minister’s Advisor on Finance Dr Abdul Hafeez Shaikh in the chair approved the risk allowance, equal to one pay to health workers.

The amount shall be provided out of 50 billion rupees of the Prime Minister’s Fiscal stimulus Package through technical supplementary grant. The amount shall be paid to 3432 employees of 10 health institutions of the Federal Government. The situation will be reviewed after 4 months for the continuity of the allowance.

The ECC also approved technical supplementary grant of worth around 22 billion rupees for various ministries and attached departments.

Regarding wheat procurement, ECC was briefed that so far PASSCO and Provincial Food Departments have procured a quantity of 6.5 million tons or 80 percent out of the assigned target of 8.25 million tons. PASSCO and KP government shall continue procurement till end of this month. In order to provide relief to small and medium enterprises during the ongoing pandemic situation, ECC approved the change in key terms of the Kamyab Jawan Program. Now instead of two tiers of 100,000 to 500,000 rupees and half million to five million, there will be three tiers of the loans. New tiers will start from 100,000 to 1000,000, one million to 10 million, and ten million to 25 million rupees.

ECC also approved 10.9 million dollars for capital increase in Bangladesh operations of National Bank of Pakistan and for meeting the minimum capital requirements prescribed by the Central Bank of Bangladesh for the year 2019 and to create some cushion in equity for 2020.

Electric Vehicle policy for 2-3 wheelers and Heavy Commercial Vehicles gets approval of the ECC.

The meeting also approved supply of 10,000 Metric Tons of wheat to World Food Program for Emergency Relief Operations and allowed import of wheat by the private sector for unlimited period after waiving different taxes and duties.

ECC also directed to remove restrictions on the movement of wheat and flour within the country and banned exports till next recommendations.