ISLAMABAD – The Economic Coordination Committee (ECC), on a summarysubmitted by the Ministry of Maritime Affairs, approved a proposalregarding 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 Blockon Wednesday with Adviser to the Prime Minister on Finance & Revenue DrAbdul 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 MachineTool Factory (PMTF) and Pakistan Steel Mill (PSM) as well as a proposal ofthe Power Division for payment of electricity charges by the Government ofSindh as Thar subsidy for 4514 domestic consumers of Taluka Islamkot.

The ECC directed the Finance Division to release one month’s salaryamounting to Rs 355 million for the month of June to the PSM employees andfurther authorise it to arrange for payment of projected net salary of Rs4097 million to the PSM employees for the Financial Year 2019-20 to bedisbursed every month to PSM.