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ECC seeks rationalised plan for costs linked to reopening Roosevelt Hotel in New York
• Seeks rationalised plan for costs linked to reopening Roosevelt Hotel
• Barter trade rules with Afghanistan, Iran, Russia overhauled to ease B2B flows
ISLAMABAD: The Economic Coordination Committee (ECC) on Thursday approved about Rs24 billion in supplementary grants for security-related expenditures and ordered a rationalised plan for immediate costs linked to reopening the Roosevelt Hotel in New York.
The ECC meeting, presided over by Finance Minister Muhammad Aurangzeb, also approved a barter trade mechanism for business-to-business (B2B) operations with Afghanistan, Iran and Russia — the latter two facing US sanctions.
Sources said the Ministry of Defence sought around $17.5 million to meet urgent liabilities at the historic Manhattan property, which could require up to $20m to restart operations........
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