Last Updated on: 2nd July 2023, 08:54 am
ECC Approves Hajj Policy 2023 With $90M Currency Hedging
The Cabinet Economic Coordination Committee (ECC) on Monday approved the Hajj Policy 2023 and agreed to provide $90 million in currency hedging.
The Economic Coordination Committee meeting was chaired by Federal Minister of Finance and Revenue Senator Ishaq Dar.
The Ministry of Religious Affairs and Interfaith Harmony presented a summary of the Hajj Policy 2023. The meeting, after discussion, approved the policy and agreed to provide $90 million in financial backing.
According to the policy, the Hajj quota allotted to Pakistan for the year 2023 is 179,210, which is split 50:50 between government and private Hajj programs. A quota of 50% is reserved for the funding program.
The state Hajj quota sponsorship program is expected to raise US$194 million and the private Hajj program is expected to raise more than US$250 million, bringing the total to more than US$440 million. The government hopes to ease the foreign exchange burden.
For 2023, the provisional Hajj package is 1,175,000 rupees for the northern region and 1,165,000 rupees for the southern region.
The ECC also approved a Technical Supplementary Grant (TSG) of Rs 12,000 crore to the Planning Commission for Conducting the 7th Population and Housing Census and Rs 3,200 crore to Poverty Alleviation and Social Security for the National Poverty Graduation Program (NPGP).
The ECC prepared a summary of urea fertilizer needs for the current year, submitted by the Department of National Food Safety and Research, with instructions to take into account the recommendations of the ECC-supervised committee for the gas distribution plan led by Shahid, Khaqan Abbasi.
The ECC also deferred another briefing submitted by the Ministry of Industry and Production on Directive 2023 for the manufacture of solar panels and related devices, with instructions on how to revise and revise the proposed directive, taking into account input from all stakeholders.
Federal Minister of Energy Khurram Dastgir, Federal Minister of Industry and Production Syed Murtaza Mahmud, Federal Minister of Commerce Syed Naveed Qamar, Federal Minister of Religious Affairs and Interfaith Harmony Mufti Abdul Shakoor, Minister of State for Oil Musadik Malik, Former Prime Minister Shahid Khaqan Abbasi, SAPM Finance Tariq Bajwa, SAPM Revenue Tariq Pasha, federal secretaries, and other senior officials attended the meeting.
Also Read: PIA Issues Hajj Fares For 2023