The Economic Coordination Committee (ECC) of the Cabinet has approved in principle a grant of USD 150 million for the purchase of the Coronavirus vaccine.

A meeting of the ECC of the Cabinet was held under the chairmanship of Advisor to Prime Minister on Finance Abdul Hafeez Sheikh on Friday, in which a six-point agenda was considered.

As per media reports, the ECC has approved in principle a USD 150 million grant for the purchase of the coronavirus vaccine, with the first phase to purchase the covid-19 vaccine for health workers and people over 65 years of age.

The meeting also approved a technical supplementary grant to start the process of reduction in the employees of Pakistan Steel Mills. In addition, a summary of debt extensions to the G20 countries has been approved.

Furthermore, the ECC has also approved a technical grant of Rs500mn under the Prime Minister's Package for TVET Sector Development in Pakistan, while a technical supplementary grant of Rs. 683.3 million has also been approved for the National Information Technology Board.