The Economic Coordination Council (ECC) has decided to use unutilized funds of Rs352 billion of Rs1,240 billion for the procurement of vaccines for Covid19 in the fourth wave, reported Business Tribune.
The ECC meeting presided over by Finance Minister Shaukat Tarin (through a video link) was presented a summary by the Finance Division to carry forward for the fiscal year 2021-22, the unutilized cash component equal to Rs352 billion out of the Economic Stimulus Package amounting to Rs1,240 billion (provided in March 2020 to mitigate the adverse socio-economic impact of the coronavirus pandemic and to support the marginalized sections of society.
The meeting was told that funds were allocated under the Economic Stimulus Package for the entire duration of the Covid-19 pandemic, irrespective of the financial year.
Thus, the ECC re-validated the amount of Rs352 billion for the fiscal year 2021-22 for meeting-related expenditures including procurement of vaccines for Covid-19 (during the ongoing fourth wave) as the federal government aims to vaccinate at least 85 million by December 2021.
