ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet approved the removal of additional 2 percent customs duties on 152 tariff lines, mostly raw material, on a horizontal basis under National Tariff Policy 2019-24.
The bill was presented by the Ministry of Commerce before the ECC during a meeting chaired by Federal Minister for Finance and Revenue Dr Abdul Hafeez Shaikh. The ECC approved the summary with a direction that the budget cycle must be observed while planning important incentives for businesses and industries for smooth planning and subsequent implementation during the financial year.
Meanwhile, the ECC also approved a summary tabled by Ministry of Maritime Affairs for awarding contract regarding infrastructure facilities, sewerage system and water supply system in Gulshan-e-Benazir Township Scheme (GBTS) at Port Qasim Authority, Karachi.
The ECC approved the projects in conformity with the PQA Act-1973 and directed Ministry of Maritime Affairs to settle the modalities for the award of contracts as per rules.
Ministry of National Food Security and Research presented a detailed summary regarding provision of additional quantities of wheat to Khyber Pakhtunkhwa, Azad Jammu and Kashmir and Utility Stores Corporations (USC).
The Additional Secretary of the ministry gave a detailed presentation regarding availability of wheat stocks across the country. The ECC approved the additional wheat allocation of 200,000 MT for KPK 80,000 MT to AJK and 220,000 MT to USC from PASSCO as requested.
ECC also approved the import of additional wheat to buffer up stocks till the arrival of the fresh crop after seeking detailed input from all concerned stakeholders.
The summaries related to the Textile and Apparel Policy (2020-25) and National Freight and Logistics Policy (NFLP) were deferred to next ECC for comprehensive consultation process with key stakeholders.
ECC approved the technical supplementary grants including Rs30 million for the Ministry of Defence for the purchase of spare parts for Helicopters for the government of Khyber Pakhtunkhwa
It also approved Rs400.02 million for the Ministry of Law and Justice to establish additional courts in compliance with the orders of the Supreme Court and Rs2.268 billion for the Higher Education Commission for completion of various Disbursement linked Indicators (DLIs) under the IDA credit facility.
