June 3, 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, has allowed a levy of 10 % regulatory duty on the import of Motor Spirit (MS), said a press release issued today.

Federal Minister for Finance and Revenue Mr Miftah Ismail presided over the ECC at Finance Division, today.

According to the press release, the Ministry of Commerce submitted a summary on the levy of regulatory duty on import of MS.

It was informed that the import of MS is subject to 10% Customs Duty under the 5^th schedule of the customs Act, 1969, but it is subject to 0% under China Pakistan Free Trade Agreement (CPFTA).

Those availing the FTA exemption pay zero customs duty while others pay customs duty @ 10%.  

The ECC after discussion, in order to address this anomaly, allowed a levy of 10 % regulatory duty on the import of MS. However, where customs duty @10% is paid on import of MS, it will be exempted from the levy of regulatory duty.

Besides, the ECC also deliberated and approved a summary submitted by the Finance Division on policy for grant of honorarium with the direction that the proposal-v of policy may be redefined as the Chairman ECC in his discretion can award additional honorarium to the employees of Federal Government.

In addition, the ECC also approved the following supplementary/ Technical Supplementary Grants:

1. Rs. 40.5 billion for the Ministry of Commerce for payment claims cleared by SBP, under the previous government’s duty drawbacks schemes (DLTL/LTLD) of textiles and non-textile sectors.
2. Rs. 2.214 billion in favour of the Federal Directorate of Education (FDE) &Rs. 300 million to National Commission for Human Development (NCHD).
3. Rs. 3.960 billion to HEC under World Bank project – Higher Education Development in Pakistan.
4. Rs. 70 million to the Higher Education Commission for the project titled “Award of 3000 scholarships to students from Afghanistan.”
5. Rs. 227.924 million in respect of Gilgit –Baltistan Council and its departments.
6. Rs. 201.091 million in favour of Ministry of Housing and Works.
7. Rs. 1812.437 million and Rs. 13,785 million in favour of the Ministry of Interior.
8. Rs. 81.791 million in favour of Geological Survey of Pakistan.
9. Rs. 123.411 million in favour of National School of Public Policy, Lahore.
10. Rs. 578.11 million in favour of Ministry of Climate Change.
11. Rs. 242.377 million for Pakistan Meteorological Department (PMD).

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