Tuesday May 16, 2017
ISLAMABAD: The Economic Coordination Committee (ECC) has approved a relief package with subsidies worth over Rs1.6 billion rupees for the forthcoming month of Ramazan.
The committee approved the package at a meeting presided by Finance Minister Ishaq Dar here in Islamabad on Tuesday.
The package will provide 19 food items to the people on subsidised rates through utility stores.
The subsidised food items include wheat flour, sugar, ghee, oil, pulses, white grams, baisen, dates, rice, squashes, black tea, milk, and spices.
The Utility Stores Corporation will also reduce prices of over 2,400 other items by 5-10 percent, obtaining special discount from suppliers and reducing its own profit margins.
The ECC also decided an increase in quantity of urea approved for exports from the existing 0.3 to 0.6 million metric tons. The deadline for export of urea was extended till October 31.
The ECC, on a proposal by the Finance Division, approved the restoration of duty and sales tax on import of cotton with effect from July 15 this year.
The decision was made to boost the confidence of domestic cotton growers during the upcoming sowing season.