ECC approved technical grant for purchase of Corona vaccine

ISLAMABAD: The Economic Coordination Committee (ECC) has approved a technical grant of over Rs 50 billion for the purchase of the Corona vaccine.

The ECC meeting was chaired by Finance Minister Shaukat Tareen and approved a grant of over Rs 50 billion to the Ministry of Health for the purchase of the corona vaccine, part of the 50  million grant provided by the Asian Development Bank.

It may be recalled that the National Ministry of Health had sought Rs 50 billion 10 million from the government for the purchase of the corona vaccine under a loan from the Asian Development Bank.

According to sources, an agreement was signed between Pakistan and the Asian Development Bank on August 6, under which the ADB approved a  500 million dollars  loan to Pakistan for the purchase of the corona vaccine.

According to sources, a summary of loan approval for the purchase of the Corona vaccine was also sent to the Economic Co-ordination Committee.

The summary stated that in the first phase,  300 million dollars would be spent on the purchase of the vaccine, with the Ministry of Health and the National Disaster Management Authority (NDMA) purchasing the vaccine, with the money provided under a technical supplementary grant.

A grant of  215 million dollars has also been approved for Rose Welt Hotel

On the other hand, a meeting chaired by Finance Minister Shaukat Tareen also approved a grant of 10 million dollars to solve the financial problems of Rose Welt Hotel New York.

The meeting also approved funds of Rs. 215 million for the elections in the cantonment boards. The funds will be provided to the Election Commission as a technical supplementary grant.

It may be recalled that local body elections in 42 cantonment boards will be held on September 12.

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