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The meeting also discussed the sowing situation of Wheat in the country and expressed satisfaction on the progress in all the four provinces. The ECC approved a proposal submitted by Finance Division for engaging the services of third party to carry out the Monitoring and Evaluation ( M&E) functions of the Kamyab Pakistan Programme . However, PPAF has not been able to undertake M & E responsibilities due to its legal status. Finance Minister expressed satisfaction on the availability of sufficient stocks of Wheat and further directed Ministry of NFS&R to formulate strategy to optimally maintain the strategic reserves of Wheat in the country to meet any difficult situation in the future. ECNEC discussed in detail and approved Punjab Arterial Roads Improvement Programme worth of Rs. 129,944.15 (US$ 773.20) Million.
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Through this program, the two organisations will provide Rs. 9 billion to small and mid-sized corporate vendors and distributors on a program based model over the next 5 years. The ribbon cutting ceremony was led by HBFC Senior Board Member, Mr.Azhar Iqbal Kureshi along with the Managing Director HBFC, Syed Basit Aly, who addressed the ceremony and shed light on future endeavors of the company to address housing finance needs if its customers at every steps. In line with the Prime Minister’s vision of “Clean Green Pakistan”, House Building Finance Company Limited has formally initiated its ‘Tree Plantation Drive’. The Managing Director, HBFC, Syed Basit Aly inaugurated the campaign by planting in the vicinity of Shahrah-e-Faisal, Karachi. The campaign is part of the company’s corporate social responsibility program under which 175 saplings were planted on Tuesday 5th November 2019. He also emphasized to conduct such effective CSR programs that are closely related to environmental issues; adding that we will ensure that saplings are nurtured till the maturity stage.
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Commodities like households, transportation, restaurant, energy items and hotel services have registered increase in the prices on YoY basis. Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed decrease by 0.11% as compared to decline of 0.06% in the previous week, 33 food items contributed decrease of 0.05%, whereas 18 non-food items contributed decrease of 0.06% to the SPI. The items shown decline included Potatoes by 0.05%, Onions by 0.03%, Eggs by 0.04% and other by 0.05%.
Federal Minister for Finance and Revenue Mr. Shaukat Tarin held a meeting with Mr. Najy Benhassine, Country Director, World Bank and his team at Finance Division, today. The NPMC was briefed on the availability of essential goods at subsidized rates at the Sastaa & Sahulat Bazaars across the country and the meeting expressed satisfaction on providing essential items at discounted rates at the Sastaa Bazaars. Federal Minister for Finance and Revenue Mr. Shaukat Tarin held a meeting with Mr. Tariq H. Niazi, Director Public Management, Financial Sector and Trade Division, ADB, accompanied by Mr. Yong Ye, Country Director ADB at Finance Division today.
The ECC also considered and approved a number of proposals of Supplementary/Technical Supplementary Grants submitted by different Ministries/Divisions. The ECC also considered and gave principal approval on a summary presented by Ministry of Defence Production for extending the Defence Credit Line Facility of USD 50 Million to Sri Lanka to enhance bilateral defence and security cooperation. The PPMA delegation thanked the Finance Minister for ensuring the full support for resolution of their issues. The Finance Minister further directed FBR to carry out all possible measures for settlement of the issues of pharmaceutical industry. Finance Minister Mr. Shaukat Tarin appreciated all the stakeholders for their contributions in the success of the Kamyab Pakistan Programme and further directed for the expansion of Kamyab Pakistan Programme throughout Pakistan. Ms. Ammara Durrani, Assistant Resident Representative UNDP, Mr. Haroon Sharif, Senior Technical Advisor UNDP on Financing for Development, Mr. Umer Akhlaq Malik, Policy Analyst UNDP and other senior officials also participated in the meeting.
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