The Economic Coordination Committee (ECC) of the Cabinet has approved in principle a grant of $150 million for the purchase of the coronavirus vaccine in order to check its spread in Pakistan, reported 24NewsHD TV channel.

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

According to sources, the ECC has approved in principle a $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 the provision of 340,000 metric tons of wheat to Punjab through the Trading Corporation of Pakistan (TCP).

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 Rs683.3 million has also been approved for the National Information Technology Board.