ECC okays Rs147b supplementary budget

The government, on Tuesday, approved a supplementary budget worth Rs147 billion to meet various obligations, including Rs363 million for renovating the Prime Minister’s office and paying honorariums to another department. The Economic Coordination Committee (ECC) of the Cabinet, which made these decisions, also increased the federal government’s wheat procurement quota by another 400,000 metric tonnes and allowed the import of 200,000 metric tonnes of urea for the upcoming Kharif season. Headed by Finance Minister Muhammad Aurangzeb, the ECC’s decisions carry financial implications of Rs188 billion. This includes Rs147 billion in supplementary grants and an additional Rs41.5 billion approved in the form of bank loans to procure an additional 400,000 metric tonnes of wheat by the Pakistan Agriculture Storage and Services Corporation (PASSCO).