Islamabad March 15 2022: ECC approved the proposal of Petroleum Division regarding issuance of sovereign guarantee amounting to Rs. 21,000 million in favour of M/s Faysal Bank Limited at considerably lower mark up rate for the remaining tenor of the loan i.e 4 and ½ years along with issuance of letter of comfort for new finance agreement w.r.t pipeline infrastructure development project LNG-II.
Federal Minister for Finance and Revenue Mr. Shaukat Tarin presided over Economic Coordination Committee (ECC) of the Cabinet, today.
Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Planning, Development and Special Initiatives Mr. Asad Umar, Federal Minister for Economic Affairs Mr. Omar Ayub Khan, Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, Federal Minister for Energy Mr. Hammad Azhar, Adviser to the Prime Minister on Commerce & Investment Mr. Abdul Razak Dawood, Federal Secretaries and senior officials participated in the meeting.
Ministry of Economic Affairs submitted a summary on G-20 Debt Service Suspension Initiative (DSSI). The ECC allowed Ministry of Economic Affairs to sign 15 debt rescheduling agreements with various credit countries, finalized under Debt Service Suspension Initiative (DSSI).
