ISLAMABAD (APP) – The Economic Coordination Committee of the Cabinet has approved payment of two months salaries to the employees of Pakistan Steel Mills amounting to eight hundred and fifty-eight million rupees.

The Committee, which met in Islamabad and was chaired by Finance Minister Ishaq Dar, also allowed WAPDA to raise a loan of twenty-five billion rupees from local banks for making payment of arrears for Net Hydel Profits to the Khyber Pakhtunkhwa government during the current fiscal year 2015-16.

The ECC also extended the date for reduced rate of withholding tax on banking transactions at four per cent on non-filers till the 31st of this month.