ECC approves removal of additional customs duties on 152 tariff lines

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday gave a go-ahead to remove 2pc additional customs’ duties on 152 tariff lines.

The meeting of the ECC was held under the chair of Finance and Revenue Minister Dr Abdul Hafeez Shaikh.

According to details, the Ministry of Commerce had presented a summary regarding removal of 2pc additional duties on 152 tariff lines, mostly raw material, on horizontal basis under the National Tariff Policy 2019-24.

- Advertisement -

The ECC approved the summary with a direction that the budget cycle must be observed while planning important incentives for businesses and industries.

Meanwhile, the Ministry of Maritime Affairs tabled a summary for the award of contracts regarding infrastructure facilities, sewerage system and water supply system in Gulshan-e-Benazir Township Scheme (GBTS) at Port Qasim Authority, Karachi. The ECC approved the projects in conformity with the PQA Act-1973, in principle, and directed the ministry to settle the modalities for the award of contracts as per rules.

The Ministry of National Food Security & Research presented a detailed summary regarding the provision of additional quantities of wheat to Khyber Pakhtunkhwa, Azad Jammu Kashmir and Utility Stores Corporations (USC). The ECC approved additional wheat allocation of 200,000MT for KP, 80,000MT for AJK and 220,000MT for USC from PASSCO as requested. The committee also approved the import of additional wheat to buffer up stocks till the arrival of fresh crop after seeking detailed input from all concerned.

The summaries related to the Textile and Apparel Policy (2020-25) and National Freight and Logistics Policy (NFLP), however, were deferred till the next ECC meeting for comprehensive consultation process with key stakeholders.

Among other agenda items, the ECC approved Rs30 million for the Ministry of Defence to purchase of spare parts for KP government helicopters, whereas a technical supplementary grant (TSG) worth Rs400.020 million was approved for the Ministry of Law and Justice to establish additional courts in compliance with the orders of the Supreme Court, besides a TSG of Rs2.268 billion for the Higher Education Commission to complete of various Disbursement Linked Indicators (DLIs) under the IDA credit facility.

Interior Minister Sheikh Rasheed Ahmed, Privatization Minister Mohammadmian Soomro, Planning Minister Asad Umar, Industries and Production Minister Hammad Azhar, Adviser to PM on Commerce Abdul Razak Dawood, SAPM on Revenue Dr Waqar Masood, SAPM on Petroleum Nadeem Babar and National Food Security and Research Minister Syed Fakhar Imam participated in the meeting.

- Advertisement -
- Advertisment -

Must Read

Nida Yasir hosts new chief, asks him to show apolitical moves...

KARACHI – Yet another trending celebrity is all set to make their debut on Good Morning Pakistan, with the newly announced Chief of Army...