The Economic Coordination Committee of the Cabinet (ECC) on Tuesday approved the Strategic Trade Policy Amendments.
The ECC met here with the Federal Minister for Finance and Economic Affairs, Dr. Abdul Hafeez Shaikh in the chair also approved summaries by the Ministry of Commerce, Finance Division and Ministry of Textile and Industries and directed Ministry of Commerce to give a detailed presentation on the matter of rationalising of prices of locally manufactured cars.
The Ministry of Commerce in its summary to the ECC had requested for approval of certain amendments as per the laid down procedure, as the Prime Minister had already granted approval of the same.
In another summary the Finance Division’s External Finance Wing had sought approval of Equity Investment in Netherlands Remittances of US $ 15 million.
The ECC further approved issuance of government’s guarantee of Rs.1.5 billion for Textile City Limited in Karachi near Port Qasim on the area of 1250 acres.
It is a joint venture of Government of Pakistan and Prime Financial Institute.