ECC takes important decision over Gwadar Port, Gwadar Free Zone

ECC takes important decision over Gwadar Port, Gwadar Free Zone
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ISLAMABAD – The Economic Coordination Committee (ECC), on a summary submitted by the Ministry of Maritime Affairs, approved a proposal regarding necessary amendments and exemptions in Income Tax Ordinance, Sales Tax Act and Custom Act for the Gwadar Port and Gwadar Free Zone.

The decisions were taken at a meeting of the ECC held at the Cabinet Block on Wednesday with Adviser to the Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh in the chair.

The meeting also approved proposals submitted by the Ministry of Industries & Production for payment of salaries to the employees of Pakistan Machine Tool Factory (PMTF) and Pakistan Steel Mill (PSM) as well as a proposal of the Power Division for payment of electricity charges by the Government of Sindh as Thar subsidy for 4514 domestic consumers of Taluka Islamkot.

The ECC directed the Finance Division to release one month’s salary amounting to Rs 355 million for the month of June to the PSM employees and further authorise it to arrange for payment of projected net salary of Rs 4097 million to the PSM employees for the Financial Year 2019-20 to be disbursed every month to PSM.

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