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ECC Reviews Eligibility Criteria for Special Incentive Package

Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh, chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet held recently.

Naya Pakistan Housing and Development Authority (NAPHDA) Chairman presented revised eligibility criteria for selection of applicants, modalities for payment of cost subsidy, and mechanism for release of funds regarding the special incentive package for the Housing and Construction sector, announced by the Prime Minister in July 2020.

The Committee urged NAPHDA to facilitate access to housing finance at affordable rates for expanding housing ownership per the vision of the Prime Minister, enabling low-to-middle income groups to avail low-cost housing facility according to their affordability.

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The ECC considered and approved another summary by the Naya Pakistan Housing and Development Authority (NAPHDA) seeking permission to enter into negotiated procurement agreements for the construction of low-cost housing through public-private partnerships (PPPs).

The ECC also considered and approved a summary by the Ministry of Energy (Power Division) regarding the GOP sovereign guarantee against financing facility of Rs. 15,250 million from local banks for the evacuation of Power from 2×660 MW Thar Coal Based Project (SSRL/SECL).

Secretary, M/o NF&S updated the Committee about the import of 300,000 MT of wheat through Trading Corporation of Pakistan (TCP) in compliance with the earlier decision of the ECC dated 20-01-2021.

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