ISLAMABAD: Finance Minister Ishaq Dar on Thursday directed the secretary aviation division to keep the Privatisation Commission in the loop in every plan involving the Pakistan International Airlines.

The move could prove to be a blow to the national carrier’s independence.

Though the issue was not on the agenda of the Economic Coordination Committee (ECC), Privatisation Commission chairman Mohammad Zubair raised it without informing the commission, a source privy to the meeting told Dawn.

“We are already talking to investors for the 26 per cent strategic sale of PIA with management control,” Mr Zubair said, complaining that the PIA has initiated its own plans while the commission is appointing financial advisers.

The visibly agitated minister asserted that the government will not tolerate any misstep that disturbs the roadmap of the privatisation, as in the case of PTCL.

Recently, PIA has announced a series of initiatives including expansion in fleet and purchase of new planes.

On the ECC agenda there were five items submitted various ministries/division. The meeting approved one-year extension in exemption from minimum tax on the cost of electricity. The decision was taken on the ground Nepra has directly determined tariff for the current year and the burden should not be passed on to the consumers.

The ECC further decided to constitute a committee comprising secretaries of the ministries of finance, water and power, and FBR chairman to work out modalities for the extension.

Another committee led by the minister for science and technology was constituted to consider afresh proposed amendments in Ogra Ordinance before its referral to ECC for consideration of approval and subsequent placement in the Council of Common Interest (CCI) for final decision.

The said amendments will empower Ogra to monitor prices of all refined oil products.

A sub-committee was constituted under minister for planning and development to review jurisdictional placement of different federal government organisations after devolution (post-18th Amendment) for review on professional lines, focusing synergy, improved governance and coordination.

The said sub-committee shall comprise ministers and secretaries from renamed and recreated federal ministries/divisions in post-devolution governance scenario. It asked the said committee to submit recommendations within three weeks.

The summary on the report on import and distribution of fertiliser was deferred for want of necessary homework.

The ECC directed ministry of commerce to exhaust limit of sugar export (400,000 tonnes).

The meeting was informed about moderation of investment rate in January 2014 to 7.9pc compared to 9.5pc in the same month last year. It was also informed that the IMF has revised GDP growth projection from 2.8pc to 3.1pc and endorsed the government’s policies.