Govt approves Rs75b fuel relief
The government on Monday approved Rs75 billion in petrol relief package for three months for motorcyclists and small car owners, which was equal to 16% of the projected monthly levy collection, a move that would provide only a temporary respite. The Economic Coordination Committee (ECC), which formally sanctioned the fuel package, also approved sale of 29.5% shares of Pakistan National Shipping Corporation (PNSC) to National Logistics Corporation (NLC) at Rs500 per share. The sale price was equal to the closing price of PNSC shares at the Pakistan Stock Exchange on Monday. NLC will make the payment of Rs29.2 billion in five installments.