The Economic Coordination Committee of the Cabinet (ECC), Wednesday, approved the proposal of Ministry of Commerce for extending the deadline for export of sugar from 31st May 2017 till 31st July 2017. The ECC directed the relevant ministries to ensure price stability especially during the holy month of Ramazan.
On a proposal moved by the Privatization Division, ECC granted post-facto approval for payment of one month’s salary to the employees of Pakistan Steel Mills Corporation (PSMC) for the month of February 2017. As Ramzan was to begin in the last week of May 2017, Chairman ECC had previously accorded anticipatory approval in this regard.
Also, keeping in view the fact that Eid-ul-Fitrwill will fall in the last week of June, the ECC also directed that the salary of PSMC employees for the month of March 2017 may be disbursed before the last week of June.
ECC met here with Finance Minister Ishaq Dar in the chair and approved proposals from different ministries. ECC also considered and approved a proposal from Finance Division regarding revised pay packages for the employees of PSDP funded projects.
The ECC approved the proposal of Cabinet Division for provision of bridge financing to the tune of Rs. 864 million for facilitating the Printing Corporation of Pakistan in procuring new printing machines for meeting the requirement of the Election Commission of Pakistan, including with respect to General Elections 2018.
While considering a proposal of the Economic Affairs Division, ECC approved the exemption from the payment of General Sales Tax (GST) for the German Development Agency – GIZ, in respect of goods purchased by GIZ.
This exemption shall also be available on procurement of services by GIZ received in Islamabad Capital Territory. This decision has been made to support the development activities carried out by GIZ in Pakistan.
The ECC also considered and approved a proposal of Ministry of Industries & Production, finalized with consensus, for not deregulating the price of sugarcane.