Islamabad: The Economic Coordination Committee (ECC) on Wednesday approved the payment of all outstanding dues resulting from a USD 105 million debt attainment procured by the Pakistan International Airline (PIA)-owned Roosevelt Hotel located in New York City’s Manhattan borough — a news source reported.
The committee further directed the Finance Division to deliberate with other relevant divisions of the government and come up with a formal structure for the payment/refinancing of the debt — as per the schedule of the hotel’s loan. The same will be submitted in the next meeting of the ECC for formal approval.
The ECC meeting also approved amendments to the Import Policy 2016 that are aimed at streamlining the trade of live animals and meat products as per the international practices.
A proposal submitted by the Finance Division to allow the Asian Development Bank to launch Offshore Pakistani Rupee-Linked Bonds was also approved during the session.
In addition, the ECC expanded the scope of the Prime Minister’s Kamyab Jawan programme to all the citizens of the country, by making its criteria more inclusive.
