ISLAMABAD: Meeting of the Economic Coordination Committee of the Cabinet was held here on Wednesday. Finance Minister Asad Umar chaired the meeting.
ECC cleared proposal of Ministry of IT regarding approval of budget estimates of National Telecommunication Corporation (NTC) by the federal cabinet. ECC however, observed that NTC being an autonomous and self earning body should be empowered like other public sector corporations to formulate and approve its own budget.
The Committee directed that necessary authorization may be granted so that in future the budget is considered and approved by the NTC Board.
Ministry of Industries briefed the meeting about fertilizer situation in the country. It was informed that imported shipments of urea have reached Karachi and arrangements are in place for supplies across the country. The ECC directed that the process should be sped up to ensure that sufficient stocks are available in the market.