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Pakistan : Finance Minister Asad Umar chaired meeting of the Economic Coordination Committee of the Cabinet (ECC)

Dec 05, 2018 (Euclid Infotech Ltd via COMTEX) --

Finance Minister Asad Umar chaired meeting of the Economic Coordination Committee of the Cabinet (ECC) here Friday. ECC approved the proposal of Ministry of National Food Security and Research for provision of 40,000 metric tons of wheat to Afghanistan as a gift.

ECC also considered and approved a proposal from the Finance Division for provision of funds amounting to US$ 82.6 million as grant to Pakistan Poverty Alleviation Fund (PPA) for disbursement to 320,000 BISP beneficiaries, helping them graduate out of poverty. It may be added that Pakistan Poverty Alleviation Fund (PPAF) had devised the National Poverty Graduation Programme (NPGP). The International Fund for Agricultural Development (IFAD) agreed to provide a loan amounting to US $82.6 million to Government of Pakistan for NPGP on concessional rates. A Project Financing Agreement with IFAD in this regard was also signed.

As per agreement, Government shall make the loan proceeds available as grant of PPAF for poverty graduation of BISP beneficiaries. ECC was also given a detailed briefing on various matters pertaining to the sugar industry.

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