Adviser to Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet at the Cabinet Division.
For the release of the Next Generation Mobile Services (NGMS) Spectrum in Pakistan for the improvement of mobile broadband services, ECC approved the formation of an Advisory Committee for the release of the unsold spectrum for NGMS.
The composition of the Committee is as follows: Adviser to Prime Minister on Finance & Revenue (Chairman), Federal Minister for Information Technology and Telecommunication, Adviser to PM on Commerce, Minister for Industries and Production, Federal Minister for Planning, Development and Special Initiatives besides other members.
Terms of Reference of the Committee (ToRs) would be:
1) To examine and evaluate the market assessment report and recommendations of PTA for the release of maximum NGMS spectrum in Pakistan.
2) To examine and finalize the policy directives for the Federal Government for the release of NGMS spectrum in Pakistan.
3) To oversee the release process to be conducted by PTA.
ECC also approved the amendment in the minutes of an earlier decision (based on the directives given earlier in the meeting of 22 July 2020) related to the subsidy of the Naya Pakistan Housing and Development Authority. The amended and approved decision states “approval of allocation of Rs. 33,095 million on account of 10 years markup subsidy on loans with tenor up to 20 years with a supplementary grant of Rs. 4,774 million on account of markup payment during the current financial year (FY 2020-21).”
ECC also approved the continuation of concessionary rates of electricity and RLNG for export-oriented sectors (erstwhile zero-rated sectors). It has been worked out by the Power Division that for July-August 2020, the electricity to export-oriented sectors may be provided at US cents 7.5/kWh and thereafter at US Cents 9/kWh for the rest of the financial year 2020-21.
ECC also decided that the Finance Division will continue with the existing guarantee of 31 billion for the power sector through Power Holding Company (PHL).