ECC of the Cabinet takes important economic decisions

ECC of the Cabinet takes important economic decisions

The Economic Coordination Committee (ECC) of the Cabinet has directed the relevant ministries to ensure price stability especially during the holy month of Ramazan.

The committee, which met in Islamabad on Wednesday with Finance Minister Ishaq Dar in the chair, also approved 864 million rupees for the Printing Corporation of Pakistan in procuring new printing machines.

ECC also extended the deadline for export of sugar from 31st of the last month till 31st of the next month.

It approved the exemption from the payment of General Sales Tax for the German Development Agency – GIZ, in respect of goods purchased by GIZ. This exemption shall also be available on procurement of services by GIZ received in Islamabad Capital Territory. This decision has been made to support the development activities carried out by GIZ in Pakistan.

The ECC too approved for not deregulating the price of sugarcane.

It accorded approval to allocation of upto 10 MMCFD gas from Tolanj field to M/s SNGPL and 2.9 MMCFD gas from Khamiso-01 well in Ghotki, to M/s Engro Fertilizer.

The committee also granted post-facto approval for payment of one month’s salary to the employees of Pakistan Steel Mills Corporation for the months of February and March this year.

It noded repayment of loan and interest for the power sector amounting to 41 billion rupees.

ECC also approved  revised pay packages for the employees of PSDP funded projects.

It assented amendments in the support package for provision of power for the Industrial sector.