The Economic Coordination Committee has recommended a uniform price of gas for fertilizer plants and decided that the revision of the sale price should be in line with the revenue requirements of the needle companies.
In this regard, the decision was taken in a meeting chaired by caretaker finance minister Dr. Shamshad Akhtar in Islamabad.
The committee directed the Competition Commission of Pakistan to investigate and determine the responsibility for the undue hike in the price of urea in the recent past.
Further, the ECC, after detailed discussion, approved the proposal of the Federal Board of Revenue to fix the criteria for a better rate of sales tax of 25 percent on locally manufactured and assembled vehicles.
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On the summary submitted by Ministry of Commerce regarding amendments in Precious Metal Jewelery and Precious Stones Order 2013 and Import Policy Order 2022, the Committee directed that a committee consisting of representatives of Ministry of Commerce, Law, FBR be constituted. go The SECP may formulate detailed proposals for these export-oriented policy reforms targeting the opening up of the service sector.
The ECC also approved a summary of the Intelligence Bureau for provision of additional funds of Rs 125 million during the current financial year to meet the growing needs of the Bureau against terrorists and anti-state elements.
Meanwhile, Finance Division’s summary of approval of Technical Sub-Grant to provide Rs 7.6 billion outstanding funds for the first tranche of the $85 million worth of credit lines received from the World Bank. Also approved by ECC.
