ECC okays gas supply to PSM; ends regulatory duty on cotton import

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ECC okays gas supply to PSM; ends regulatory duty on cotton import

Advisor to Prime Minister on Finance Abdul Hafeez Shaikh chaired a meeting of the Economic Coordination Committee (ECC) today to discuss a 10-point agenda.

During the meeting underway in Islamabad today, the Economic Coordination Committee (ECC) has given the approval to end five per cent regulatory duty on cotton imports after mulling over recommendations to encourage its imports for bringing raw cotton.

Sources said that the committee approved gas supply to Pakistan Steel Mills (PSM). It has also approved for initiating gas supply from Benari field to Sui Southern Gas Company (SSGC).

A suggestion was tabled in the ECC meeting to constitute a committee for waiving off loans of the national highway. A summary for repair work of Islamabad High Court (IHC) building was approved by the ECC members, sources added.

ECC is also likely to approve Karachi transformation plan announced by Prime Minister Imran Khan in September for the execution of a transformation plan meant to address the city’s issues and developmental requirements.

In the previous meeting, the Economic Coordination Committee (ECC) had approved a technical supplementary grant for the advance purchases of COVID-19 vaccines.

The ECC members had deliberated upon the six-month extension of payment of interest on loans acquired from G20 countries and the matter related to gas supply to Engro Fertilizers. The committee’s members approved gas supplies to Engro Fertilizers.

Moreover, the committee had granted permission to Punjab province for importing 340,000 tonnes wheat through the Trading Corporation of Pakistan (TCP).

 

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