The Economic Coordination Committee (ECC) of the federal cabinet has approved import of additional wheat to buffer up existing stocks till the arrival of fresh crop.
The ECC, which met on Wednesday with Finance Minister Dr Abdul Hafeez Shaikh in the chair, also approved additional 200,000 metric tons wheat for Khyber Pakhtunkhwa, 80,000 metric tons for Azad Kashmir and 220,000 metric tons for Utility Stores Corporation.
The Ministry of Commerce presented the summary regarding removal of additional 2 percent customs duties on 152 tariff lines, mostly raw material, on a horizontal basis under National Tariff Policy 2019-24.
The ECC approved the summary with a direction that the budget cycle must be observed while planning important incentives for businesses & industries for smooth planning and subsequent implementation during the financial year.
The Committee assented approval to technical supplementary grants of worth Rs30 million for the purchase of spare parts of KP government’s helicopter and over Rs400 million to establish additional accountability courts in compliance with the orders of the Supreme Court.
The ECC also approved a grant of Rs2.268 billion for the Higher Education Commission for completion of various disbursement linked Indicators.
Ministry of Maritime Affairs tabled a summary for awarding contracts regarding infrastructure facilities, sewerage system and water supply system in Gulshan-e-Benazir Township Scheme (GBTS) at Port Qasim Authority, Karachi.
The ECC approved the projects in conformity with the PQA Act-1973, in principle, and directed the Ministry of Maritime Affairs to settle the modalities for the award of contracts as per rules.
The summaries related to the Textile and Apparel Policy (2020-25) and National Freight and Logistics Policy (NFLP) were deferred to the next ECC for a comprehensive consultation process with key stakeholders.
