AGL 37.99 Decreased By ▼ -0.03 (-0.08%)
AIRLINK 215.53 Increased By ▲ 18.17 (9.21%)
BOP 9.80 Increased By ▲ 0.26 (2.73%)
CNERGY 6.79 Increased By ▲ 0.88 (14.89%)
DCL 9.17 Increased By ▲ 0.35 (3.97%)
DFML 38.96 Increased By ▲ 3.22 (9.01%)
DGKC 100.25 Increased By ▲ 3.39 (3.5%)
FCCL 36.70 Increased By ▲ 1.45 (4.11%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 14.49 Increased By ▲ 1.32 (10.02%)
HUBC 134.13 Increased By ▲ 6.58 (5.16%)
HUMNL 13.63 Increased By ▲ 0.13 (0.96%)
KEL 5.69 Increased By ▲ 0.37 (6.95%)
KOSM 7.32 Increased By ▲ 0.32 (4.57%)
MLCF 45.87 Increased By ▲ 1.17 (2.62%)
NBP 61.28 Decreased By ▼ -0.14 (-0.23%)
OGDC 232.59 Increased By ▲ 17.92 (8.35%)
PAEL 40.73 Increased By ▲ 1.94 (5%)
PIBTL 8.58 Increased By ▲ 0.33 (4%)
PPL 203.34 Increased By ▲ 10.26 (5.31%)
PRL 40.81 Increased By ▲ 2.15 (5.56%)
PTC 28.31 Increased By ▲ 2.51 (9.73%)
SEARL 108.51 Increased By ▲ 4.91 (4.74%)
TELE 8.74 Increased By ▲ 0.44 (5.3%)
TOMCL 35.83 Increased By ▲ 0.83 (2.37%)
TPLP 13.84 Increased By ▲ 0.54 (4.06%)
TREET 24.38 Increased By ▲ 2.22 (10.02%)
TRG 61.15 Increased By ▲ 5.56 (10%)
UNITY 34.84 Increased By ▲ 1.87 (5.67%)
WTL 1.72 Increased By ▲ 0.12 (7.5%)
BR100 12,244 Increased By 517.6 (4.41%)
BR30 38,419 Increased By 2042.6 (5.62%)
KSE100 113,924 Increased By 4411.3 (4.03%)
KSE30 36,044 Increased By 1530.5 (4.43%)

The Economic Coordination Committee (ECC) of the Cabinet headed by Finance Minister, has approved supplementary grant of Rs 410 million for repair of two VVIP Gulfstream aircraft in use by the Prime Minister well-informed sources told Business Recorder. However, the ECC has failed to resolve controversy between Ministry of Defence Production and Pakistan Air Force (PAF) regarding transfer of funds.
The sources said, Ministry of Defence Production stated that Directorate General Defence Procurement (DGDP) concluded a contract for purchase of 2x VVIP Gulfstream aircraft (one new + one used) at a cost of $ 58,550,924 on September 10, 2005 on the directions of the Ministries of Finance and Defence. Subsequently, payment of repair and maintenance of 2xVVIP Gulfstream began to be made through the Ministry of Defence Production in favour of air headquarters. Presently, a demand of Rs 410 million has been received from the air headquarters.
Ministry of Defence Production proposed that an amount of Rs 410 million ( $ 2.9 million) for payment relating to repair and maintenance of VVIP Gulfstream aircrafts may be provided through supplementary grant for onward transfer to the air headquarters. It, was, however, pointed out that allocation for this purpose is presently made out of grant number 27 of Ministry of Defence Production (sub-head A09-A09503-other) which may be allocated directly to Ministry of Defence which is the controlling Ministry of air headquarters as this Ministry has no record/details of maintenance needs/ToR of usage of these aircraft. Thus in keeping with the principles of financial discipline allocation and in view of the fact that both aircraft are presently on maintenance in the air headquarters, it would be in the fitness of things to streamline allocation mechanism once and for all by making it directly between the Finance Division, Ministry of Defence and the air headquarters with effect from July 1, 2019.
The meeting was apprised that Finance Division agreed to allocate Rs 410 million ($ 2.9 million) for payment relating to repair and maintenance of VVIP Gulfstream aircrafts through supplementary grant under demand number 27 for onward transfer to Pakistan Air Force (PAF). The issue relating to transfer of allocation of funds for this purpose from Ministry of Defence Production to Ministry of Defence/PAF may be settled between these two Ministries.
After discussion, the ECC approved the summary of Ministry of Defence Production regarding supplementary grant of Rs 410 million ($ 2.9 million) for payment relating to repaid and maintenance of VVIP Gulfstream aircrafts through supplementary grant under demand number 27 for onward transfer to air headquarters.
The ECC further decided that the issue relating to transfer of allocation of funds for repair of two VVIP aircraft from the Ministry of Defence Production to Ministry of Defence/PAF may be settled between these two Ministries.

Copyright Business Recorder, 2019

Comments

Comments are closed.