The Cabinet’s Economic Co-ordination Committee (ECC) has approved a limited increase in prices of essential commodities, provision of لاکھ 5.8 million to Ocean Shipping Services, and abolition of Neelum Jhelum surcharge of 10 paisa per unit on electricity bills.
According to Express, a meeting of the Economic Coordination Committee of the Cabinet was held under the chairmanship of Finance Minister Dr. Abdul Hafeez Sheikh in which Minister for National Food Security and Research Fakhr Imam, Minister for Industries and Production Hamad Azhar, Advisor Dr. Ishrat Hussain, Dr. Waqar Masood, Nadeem Babar and Chairman Board of Investment Atif Bukhari and others attended.
At the meeting, the Ministry of Industries and Production presented a summary on the revision of subsidized prices of essential commodities through the Utility Stores Corporation of Pakistan. The meeting reviewed the summary of revision of prices of subsidized items at utility stores.
A briefing was given on various suggestions regarding revision of sugar, flour and ghee prices at utility stores. The ECC approved ڈالر 5.8 million in Ocean shipping services, including a limited increase in essential commodity prices. The German company will be paid for the coal supply arrears for the steel mills. The recommendations of the sub-committee set up to resolve tax issues in the IT and telecom sector were approved.
The Ministry of Energy’s summary of taxation of payments to offshore supply contractors was considered. In this regard, a sub-committee headed by the Law Secretary was set up to prepare proposals.
The ECC also approved the abolition of Neelum Jhelum surcharge of 10 paisa per unit on electricity bills. The Prime Minister has also approved a sovereign guarantee for the National Electronics Complex project, including a summary of the distribution of subsidies for the relief package in the wake of the Corona epidemic for the agricultural sector.
The ECC also approved a supplementary grant of Rs. 55 crore for the Special Communication Organization, Rs. 10.9 crore to the Ministry of Information for the payment of media campaign dues of Ehsas Program and Rs. 200 crores for Special Technology Zones. Also approved.