July 20, 2023 (MLN): Economic Coordination Committee (ECC) considered and approved a summary of Election Commission of Pakistan regarding the demand for funds of Rs42.53 billion as TSG for conduct of General Elections in FY 2023-2024, as revealed in the meeting of ECC of the Cabinet held today chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar.
As per the latest press issued, out of the total Rs43.53bn, the ECC allowed Rs10 billion as first release and further release on need basis.
The ECC also approved a Technical Supplementary Grant (TSG) of Rs200 million in favor of the Special Investment Facilitation Council (SIFC) of PM Secretariat, which has been established to attract investment from GCC and other countries in the fields of Defence, Agriculture, Mineral, IT, and Energy.
The ECC considered a summary of Ministry of Information & Broadcasting regarding charging electricity rates to Cinema houses.
In order to revive the film industry in Pakistan, the ECC approved the proposal that Cinemas may be charged electricity as per rates admissible to industry .
The ECC also considered a summary of Ministry of Commerce regarding export of vegetable ghee/cooking oil from export processing zones to Afghanistan through land route and approved omission of Para 7(6) and para 7(7) of Export Policy Order (EPO) -2022, which specifies the conditions for exports to Afghanistan.
The ECC further allowed amendment in Schedule –II of EPO-2022 to the extent of removing the exception regarding export of vegetable ghee/cooking oil from EPZs, manufacturing bonds and export oriented units to Afghanistan.
The ECC also considered a summary of Ministry of National Food Security & Research regarding the revision of Cess rates of Tobacco for the year 2023-24.
The ECC approved revised Cess rates for the year 2023-24 as par Section 9 of PTB Ordinance 1968, on the basis of MIPs for the year 2023-24 as follows:
|
Sr No. |
Types of Tobacco |
MIPs for 2023-24 (Rs. Per Kg) |
Current Cess Rates (Rs per Kg) |
Revised Cess Rates (Rs per Kg) |
|---|---|---|---|---|
|
1 |
Flue Cured Virginia (FCV) |
|
|
|
|
i. Plain Area |
310.00 |
6.00 |
9.30 |
|
|
ii. Sub-Mountainous Area |
351.00 |
6.00 |
9.30 |
|
|
2 |
Dark Air-Cured Tobacco (DAC) |
190.00 |
3.60 |
5.70 |
|
3 |
White Patta (WP) |
146.00 |
3.00 |
4.38 |
|
4 |
Burley |
223.00 |
5.00 |
6.69 |
|
5 |
Naswar / Snuff / Hookah and other Rustica Tobacco and its products |
146.00 |
3.00 |
4.38 |
|
6 |
Sun Cured Virginia (SCV) |
200.00 |
– |
6.00 |
Copyright Mettis Link News
Posted on: 2023-07-20T21:45:23+05:00
