ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) onFriday directed the Ministry of Industries that due process should becompleted for listing of the Pakistan Steels Mills (PSM) for privatizationwith a view to implement its revival plan based on private sector inputsand collaboration.
The ECC approved in this regard the recommendations of the expert groupsconstituted by the Industries and Production Division to work out anoperationalisation plan for the PSM’s revival.
The meeting presided over by Adviser to Prime Minister on Finance, Revenueand Economic Affairs Dr Abdul Hafeez Shaikh, also partially approvedadjustments in petroleum products as proposed by the Oil and Gas RegulatoryAuthority (OGRA).
However, it was decided to reduce the General Sales Tax (GST) on petrol by5% to provide relief to the consumers. The reduction will entail a revenueloss of around Rs 5 billion to the government, according to a statementissued by Finance Ministry.
The ECC approved the proposal of Petroleum Division to allocate gas fromThal East, Bhambhra and Thal West fields to Sui Southern Gas CompanyLimited (SSGCL).
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The Industries Division updated the ECC on Ramadan Relief Package andinformed that Utility Stores across the country were being stocked to caterfor the Ramadan shopping.
The committee also approved supplementary grants and technicalsupplementary grants for different ministries and divisions. It alsoapproved payment of salaries to Khassadars of South Waziristan.
