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ECC

ECC approves reduction of Rs5 in electricity prices

ISLAMABAD: In line with Prime Minister Imran Khan’s announcement regarding a Rs5 decline per unit in electricity prices, the Ministry of Energy sought an incentive package that has been approved by the Economic Coordination Committee (ECC) for March 2022 to

ECC allows Ministry of Industries and Production to build sugar reserves

ISLAMABAD: Economic Coordination Committee at its meeting in Islamabad today chaired by Finance Minister Shaukat Tarin allowed the Ministry of Industries and Production to build strategic reserves of sugar to avoid price variation and hike in its prices in the

ECC gives nod for extending Defence Credit Line Facility of $50m to SL

ISLAMABAD: The Economic Coordination Committee of the Cabinet has given principal approval for extending the Defence Credit Line Facility of 50 Million dollars to Sri Lanka to enhance bilateral defence and security cooperation. The meeting of ECC was held in

ECC approves export of selected commodities to Afghanistan against Pakistan currency

ISLAMABAD: The Economic Coordination Committee of the Cabinet has approved export of selected commodities to Afghanistan against Pakistan currency, considering the food crisis and prevailing situation in the war-torn country. The approval was granted at an online meeting of the

ECC approves release of 190,000 metric tonnes wheat

ISLAMABAD: Economic Coordination Committee of the cabinet has approved release of 190,000 metric tonnes of wheat to Utility Stores Corporation to ensure smooth supply of the commodity across Pakistan. The ECC, which met in Islamabad on Thursday with Finance Minister

ECC approves tenders for importing wheat, urea

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet on Thursday approved the summary to import 550,000 MT of wheat for the FY2021-22. Minister for Finance and Revenue Shaukat Tarin presided over the meeting of ECC. The summary was

ECC approves remittance loyalty programme

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet approved the structure and estimated financial impact of the National Remittance Loyalty Program (NRLP), a mobile application scheduled to be launched in October 2021. The NRLP programme is being introduced

ECC increases prices of flour, ghee and sugar at utilities stores

ISLAMABAD: The Economic Coordination Committee (ECC) has approved increasing the prices of three essential commodities including flour, sugar and ghee to rationalise the provision of subsidies by the Utility Stores Corporation. The ECC approved the revision in prices of three

ECC approves import of 100,000 metric tons sugar

ISLAMABAD: The Economic Coordination Committee of the federal cabinet has approved the import of 100,000 metric tons of sugar. A meeting of the committee chaired by Finance Minister Shaukat Tarin approved a summary by Industries and Production Division for approval

ECC approves Rs9.85bn supplementary grants

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet on Wednesday approved Technical Supplementary Grants (TSGs) worth Rs 9855.984 million for various divisions. The cabinet committee meeting was chaired by Federal Minister for Finance and Revenue Shaukat Tarin attended

ECC approves provision of 500,000 MT wheat to KP

ISLAMABAD: Economic Coordination Committee (ECC) of the cabinet on Wednesday approved the provision of 500,000 MT of wheat to the Government of Khyber Pakhtunkhwa during the crop year 2021-22. Federal Minister for Finance and Revenue Shaukat Tarin chaired the meeting

ECC approves Rs1.8bn for oxygen import

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has approved over Rs44 billion for various projects, including 1.8 billion rupees for import of oxygen gas to meet the emergency requirement in hospitals for treatment of COVID-19 patients. The ECC

ECC approves release of RLNG subsidy for export industry

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet approved the release of subsidy for the supply of RLNG to export-oriented industry for the month of March last year. Federal Minister for Finance and Revenue Shaukat Tarin presided over

ECC withdraws customs duty on cotton yarn import

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet withdrew customs duty on import of cotton yarn till June 30, to ensure smooth supply of the commodity to the industry, while bridging the gap between domestic production and overall

ECC approves PIA restructuring plan

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet recommended the restructuring plan of Pakistan International Airlines Corporation Limited (PIACL) for onward submission before the cabinet after reconciliation of tax liability figures. The committee, the meeting of which was

Federal cabinet rejects importing sugar, cotton from India

ISLAMABAD: The Federal Cabinet today (Thursday) turned down deferred the Economic Coordination Committee’s (ECC) decision to import sugar and cotton from India through land and sea routes. The decision has been deferred until India reinstates Article 370 of its Constitution,

PM chairs cabinet meeting to discuss resuming trade ties with India

ISLAMABAD: Prime Minister Imran Khan on Thursday chaired the meeting of federal cabinet via videolink from his residence in Bani Gala. The meeting took up several agenda items relating to development projects. The situation in the wake of rising cases

ECC approves Rs2bn for PM’s low-cost housing scheme

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet approved Rs.5552.049 million Technical Supplementary Grants (TSG) for various ministries and divisions. A meeting of the cabinet committee chaired by Federal Minister for Finance and Revenue Hammad Azhar approved an amount

Govt to import sugar, cotton from India: Hammad Azhar

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has allowed the private sector to import 0.5 million tonnes of white sugar from India, said Finance Minister Hammad Azhar. Addressing a press conference in Islamabad, the finance minister added

ECC approves payment mechanism to clear outstanding dues of IPPs

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet approved the report of the implementation committee regarding the payment mechanism to clear the outstanding dues of Independent Power Producers (IPPs). A meeting of the committee chaired by Federal Minister

ECC approves Rs140mn to clear dues for COVID-19 media campaigns

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has approved funds to clear the due on media campaigns initiated to create awareness among the public during COVID-19 pandemic. The committee meeting chaired by Finance Minister Dr. Abdul Hafeez

ECC extends subsidy on five essential items through Utility Stores

ISLAMABAD: Economic Coordination Committee (ECC) of the federal cabinet has approved the continuation of subsidy on five essential items through Utility Stores Corporation till the end of the current fiscal year. Federal Minister for Finance and Revenue Dr Abdul Hafeez

Finance Minister to discuss 6-point agenda in ECC meeting today

ISLAMABAD: Minister for Finance and Revenue Dr Abdul Hafeez Sheikh will chair a meeting of the Economic Coordination Committee (ECC) today to discuss a six-point agenda which includes sugar, tax issues, the Road to Makkah project, and pilgrimage issues. The

ECC approves 2% additional cut in customs duties on 152 tariff lines

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

ECC ‘endorses’ Karachi Transformation Plan

ISLAMABAD: Economic Coordination Committee (ECC) of the federal cabinet has endorsed the Karachi Transformation Plan (KTP) and allowed revision in the master plan for five terminals at Port Qasim. Federal Minister for Finance and Revenue Dr Abdul Hafeez Sheikh chaired

ECC approves mobile device manufacturing, electric vehicles policy

ISLAMABAD: The Economic Coordination Committee of the federal cabinet held a meeting presided by the Minister for Finance and Revenue Dr Abdul Hafeez Sheikh. The committee approved Mobile Device Manufacturing and Electric Vehicles Policy for two and three-wheelers and heavy

ECC abolishes 5 percent duty on cotton yarn imports

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has removed a five percent regulatory duty on the import of cotton yarn to boost value-added exports from the country. According to a press statement issued by the Finance Ministry today,

ECC approves $150mn grant for purchase of COVID-19 vaccine

ISLAMABAD: Economic Coordination Committee (ECC) has approved a technical supplementary grant of $150 million for the purchase of COVID-19 vaccine.  The approval was given at a meeting of the ECC chaired by Adviser on Finance and Revenue Dr Abdul Hafeez

Hafeez Sheikh to chair ECC meeting today

ISLAMABAD: Finance Advisor Hafeez Sheikh will chair the Economic Coordination Committee (ECC) meeting today. The Cabinet Economic Co-ordination Committee will meet today to consider a four-point agenda.  During the meeting, laying off 3,000 permanent employees from the Pakistan International Airlines

ECC proposes Rs 1600 as minimum support price for wheat

ISLAMABAD: The Economic Coordination Council (ECC) has decided to propose to the cabinet Rs 1600 as minimum support price (MSP) per forty kilograms (maunds) for wheat crop this year. Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh