Mohammad Arshad Islamabad
In the wake of surging Covid-19 cases, the Economic Coordination Committee (ECC) of the Cabinet, Wednesday, exempted duties and taxes for import of oxygen gas, oxygen gas cylinder and cryogenic tanks for six months.
This exemption will apply on the import of said items by oxygen concentrators / Generators / manufacturing Plants under respective Harmonized System (HS) with the increased requirement of oxygen during the third wave of COVID-19 in the country.
ECC granted this approval in a meeting chaired by the Finance Minister Shaukat Tarin on a summary moved by the Ministry of Industries and Production.
The ECC approved a moved by summary Ministry of Commerce regarding implementation of United Nations Security Council Resolutions (UNSCRS) through export Policy Order, 2020 and Import policy Order, 2020.
The ECC also approved payment of first installment to 35 IPPs out of total 47 whereas payment to the remaining 12 IPPs (under Power Policy 2002) may be withheld owing to the NAB investigation.
Power Division presented a summary before the ECC regarding release of first installment of payment to IPPs.
Secretary Power Division briefed the Committee about the recommendations of the sub-committee constituted during ECC last week.
Secretary Power gave a detailed briefing to the Committee regarding a draft summary for approval of arrangement for providing additional power from NTDC to K-Electric since April 2020.
The Secretary Power also raised the issue of non-payment for the additional power supply by K-Electric to Power Division.
After Detailed discussion, the ECC constituted a Sub-Committee comprising Federal Minister for Planning, Federal Minister for Energy, Federal Minister for Maritime Affairs and SAPM on Power to be headed by the Finance Minister to negotiate with the Karachi Electric for settlement of payment dispute amicably.
Power Division placed a summary before the ECC regarding tax on payments to the offshore supply contractors of Independent Power Producer(s) located in AJ&K.
The ECC considered and approved the summary to facilitate swift processing of such projects due to its strategic importance.