Selected items of textile sector: ECC may approve removal of additional customs, regulatory duties

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is expected to approve removal of additional customs and regulatory duties on selected items of textile sector under the National Tariff Policy 2019-24.

A meeting of the ECC to be presided over by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh would take up as many as six items on the agenda with the possibility that some items may be circulated during the meeting or included before the meeting as this has long been a usual practice in the past. On a proposal of the Commerce Division, the ECC is likely to approve removal of additional customs and regulatory duties on selected items of the textile sector under the National Tariff Policy 2019-24.

The meeting would also take up a proposal of the Finance Division for wavier of guarantee fee on foreign loans of K2/K3 projects, and the Ministry of Industries and Production Division’s proposal for disbursement of Pakistan Steel Mills (PSM) employees’ salaries for the financial year 2020-2021.

On a proposal of the Law and Justice Division, the ECC may approve technical supplementary grant of Rs102 million for the Islamabad High Court (IHC) under the Finance Division Demand.

The National Heritage and Culture Division has also moved a summary to the ECC with a request to approve technical supplementary grant of Rs85,011,000 under Demand No 50-misc and during current fiscal year as administrative control of National Academy of Performing Arts has been transferred to it.

The ECC would also take up a proposal of the National Health Services, Regulation and Coordination with respect to implementation of the Executive Committee of National Economic Council (ECNEC)’s decision to shift Expanded Program on Immunization budget from development budget to revenue budget.

Copyright Business Recorder, 2020