| GEO Business|
| ECC approves to scrap GST on sugar|
| Updated at: 1310 PST, Wednesday, January 13, 2010|
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved to abolish the remaining eight percent General Sales Tax on sugar, Geo News reported Wednesday.
The ECC meeting held yesterday decided to scrap the GST on sugar to stem the burgeoning prices of the commodity.
The sources told Geo News that the half of 16 percent GST imposed on sugar was lifted in August 2009; now, the ECC approved to brush aside the remaining eight percent GST and decided to increase the sugar price by Rs7/kg at Utility Stores, so that the sugar prices in the open market could be controlled.
The cabinet will give the final approval of the ECC decisions.