ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is set to meet on Tuesday (today) to take up a heavy 11-point agenda, including the proposed amendments to the procedure for import of vehicles under the personal baggage, transfer of residence and gift schemes, and proposed revision of margins for oil marketing companies (OMCs) on petroleum products Motor Spirit (MS) and High-Speed Diesel (HSD).
Finance and Revenue Minister Muhammad Aurangzeb will chair the meeting, which will also review the Power Division’s summary regarding the circular debt management plan for fiscal year 2025-26.
According to official documents, the Commerce Division will brief the ECC on proposed amendments to the procedure for importing vehicles under the personal baggage, transfer of residence, and gift schemes. The summary also proposes stricter checks to prevent the misuse of these schemes while streamlining legitimate imports.
The Division will also present a case regarding the implementation of the Lahore High Court’s decision in the “Ghani Glass vs. Federation of Pakistan” matter, as well as a proposal for restrictions on the import of chloroform.
From the energy sector, the Petroleum Division has moved a summary seeking revision of margins for oil marketing companies (OMCs) and dealers on Motor Spirit (MS) and High-Speed Diesel (HSD).
The revision of margins — adjusted periodically based on inflation, operational costs, and market dynamics — is expected to have a direct effecton the pricing structure of petroleum products.
The ECC will also review several high-impact proposals from other ministries, including the Power Division’s contract with Tavanir Iran for the procurement of electricity and the Circular Debt Management Plan for fiscal year 2025-26.
The Information Technology & Telecom Division has sought approval for a technical supplementary grant of Rs 1.28 billion for the Pakistan Digital Authority (PDA) to support implementation of the Prime Minister’s AI initiatives during the ongoing fiscal year.
The agenda also includes the Interior and Narcotics Control Division’s request for release and surrender of development funds under Demand No. 92, and the Housing and Works Division’s proposal for allocation of Rs 5 billion in housing sector subsidies via a technical supplementary grant.
ECC is set to take the National Food Security and Research Division summary on winding up of PASSCO and establishment of special purpose vehicle (SPV) – the Wheat Stock Management Company (WSMC) (public) limited.
The meeting will also take up the Defence Division’s request for the release of budgetary allocations for the PIA Holding Company Limited (PIAHCL), a critical component of the ongoing restructuring of the national flag carrier.
Copyright Business Recorder, 2025
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