Removal of five percent regulatory duty on import of cotton yarn has been approved by the Economic Coordination Committee (ECC) till 30th June next year to enhance value-added exports. ECC also approved the release of funds to Pakistan Steel Mills for payment in lieu of gas supply to Sui Southern Gas Company Limited through a Technical Supplementary Grant.
According to media reports, these decisions have been taken by ECC in a meeting in Islamabad on Wednesday with the Advisor to Prime Minister on Finance Dr Abdul Hafeez Shaikh in the chair.
ECC allowed allocation of upto 9.5 MMCFD gas from M/s PPL’s Benari X-I discovery to SSGCL. Similarly, during the meeting allocation of 10 MMCFD gas from PPL’s Hadaf X-I to SSGCL was also approved.
The Committee directed the Logistics Committee to ensure berthing of wheat and sugar vessels on priority keeping in view that other imports are not affected.
The meeting also accorded approval for allocation of additional funds for maintenance of Islamabad High Court Building and Judges Residences.