The ECC formed the Cabinet committee after it was briefed about the offer at its meeting held under the chairmanship of Federal Finance Minister Dr. Hafeez Sheikh here.
The committee comprising Federal Ministers Syed Naveed Qamar, Dr. Asim Hussain, Federal Secretary for Economic Affairs and Finance and Governor State Bank of Pakistan, has been directed to complete the assigned task within 2 to 3 days.
The meeting was informed that Iran had also offered an amount of 250 million dollars as an initial financing for the project.
The ECC also approved a package of Rs6.10 billion for Pakistan Railways to repair and restore the broken down locomotives.
The meeting also formed a committee for exporting 1.280 million tones wheat to Iran.
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