Rs 90 bn to be release to private power plants as first tranche

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ISLAMABAD: The federal government has approved to release first tranche of Rs 90 billion to private power plants.

A meeting of the Economic Co-ordination Committee chaired by Finance Minister Shaukat Tareen was held in Islamabad in which important grants, including payment of the first installment of private power plants, were approved.

Sources said, the meeting approved the release of Rs 90 billion in the first installment to private power plants, while cases of payments of Rs 60 billion are in the NAB, which will be released after the decision.

The ECC also gave approval to release Rs 1.80 billion to the National Disaster Management Authority (NDMA).

The NDMA will use this money to import oxygen and equipment related to its manufacture.

The ECC meeting approved Rs 57 crore for the construction of the Islamabad High Court building. The meeting gave approval of technical supplementary grants for the Ministry of Defense, Petroleum Division and others were approved.

A sum of Rs 1.56 billion was approved for federal education and professional training.