Updated at: 0122 PST, Wednesday, March 02, 2011 GEO Television Network
ISLAMABAD: Economic Coordination Committee (ECC) besides issuing approval for amendments in trade policy has all the same endorsed guarantee of 1.5 billion rupees for construction of Textile City at Port Qasim in a meeting here on Tuesday, Geo News reported.
The meeting was chaired by Dr. Abdul Hafeez Sheikh here in Islamabad.
A total of eighteen amendment points were approved during the meeting, according to which, the medical equipments used for tests in laboratories, pressure breaks and its equipments used in train’s engines and equipments of glassware laboratory and cotton waste may be imported from India.
The government will spend 50 crore rupees on purchase of land for construction of Textile City at Port Qasim.
Equity investment worth $1.5 crore has also been sanctioned for Holland-backed investment in Pakistan to be spent by Engro on export of Halal food items to Holland.
Also, the ECC was assured of the import of 12,00,000 tonnes of sugar latest by March 12.