ECC to give approval for tax waiver on sugar imports

January 19, 2021 (MLN): A meeting of the cabinet’s Economic Coordination Committee (ECC) is likely to give approval for the waiver of taxes on imports of sugar that will be held on Wednesday, January 20, 2021.

To be presided over by Federal Minister for Finance & Revenue, Dr. Abdul Hafeez Shaikh, the ECC meeting will have 14 items agenda from different ministries.

The meeting would take up the proposal of the Interior Ministry for approval of the Technical Supplementary Grant amounting to Rs 10 million within the sanctioned budget for the purchase of spare parts for Helicopter Maintenance by HQs Frontier Corps Baluchistan (North), Quetta during CFY2020-21.

The ECC would also consider expenditure for payment to Hired Solicitor for pursuing cases in the UK.

Meanwhile, the committee would also deliberate on the Planning, Development & Special Initiatives’ proposal of Technical Supplementary Grant amounting to Rs 16.63 billion. Religious Affairs & Interfaith Harmony has also forwarded its proposal for scaling up of Road to Makkah Project.

Furthermore, the ECC would discuss Textiles and Apparel Policy 2020-25 as well as the National Freight and Logistics Policy (NFLP). The summaries related to both policies were deferred in the last meeting for a comprehensive consultation with stakeholders.

The committee would also take up a proposal moved by Industries and Production for the transfer of allocation of funds to the PSDP project titled ‘1000 industrial Stitching Units’ through Technical Supplementary Grant (TSG).

The Ministry of Industries & Production has also proposed for the transfer of allocation of funds to another PSDP project titled ‘Establishment of 132KV Grid Station at Bin Qasim Industrial Park (BQIP) modified PC-I’ through TSG.

The committee would also discuss the report to the ECC of the cabinet in compliance with ECC’s decision dated 21-10-2020.

The summary moved by the Ministry of Finance on the Draft Policy on Equity Investment Abroad by Residents will also be discussed during the meeting. In addition, ECC would take up a summary of the Aviation Ministry with regards to financial charges of Roosevelt Hotel, New York.

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