ISLAMABAD  -  The Economic Coordination Committee (ECC) of the Cabi­net on Tuesday approved the summary “Permission to Im­port Wheat and Export of Wheat Flour under Export Fa­cilitation Scheme 2021”.

Federal Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar presided over a meeting of the Econom­ic Coordination Committee (ECC) of the Cabinet. A sum­mary of Ministry of Commerce (Tariff Policy Wing), regarding “Individual Tariff Rationaliza­tion Proposals from Different Sectors for Review of Custom Duties” was discussed in the committee. The forum after de­liberations approved the pro­posal and advised that tariff rationalization should be coor­dinated with the trade policy. A proposal regarding “Permission to Import Wheat and Export of Wheat Flour under Export Fa­cilitation Scheme 2021” was presented to the forum by Min­istry of Commerce. The ECC approved the proposal and di­rected the relevant ministries to prepare comprehensive propos­als for enhancing the opportuni­ties for valued added exports.

The ECC also approved a summary of Power Division regarding “Commissioning of 1263MW CCPP Punjab Ther­mal Power (Pvt) Limited, Jhang (PPTL)”. Another proposal of Ministry of Commerce regard­ing “Sharing of Subsidy on Imported Urea at 50:50 Basis Technical Supplementary Grant for Ministry of Commerce” was considered by the Committee. ECC approved the proposed release of Rs6 billion to Minis­try of Commerce. The funds are meant for clearing the arrears of subsidy for the previous fi­nancial year. It was clarified that no subsidy on this account has been allowed by the govern­ment during the current year. The ECC also directed that the provincial governments be ap­proached to clear their respec­tive arrears of subsidy on urea. 

The Ministry of Planning, De­velopment & Special Initiatives briefed the ECC on the inflation situation in the country. The fo­rum directed Ministry of PD&SI to make sure that detailed anal­ysis is carried out on the data collected by PBS, and the same is also presented to the Com­mittee for taking appropriate measures in a timely manner. 

In order to provide relief to general public during Rama­zan, the Economic Coordi­nation Committee approved the proposed Ramazan Relief Package-2024, for provision of subsidy to the targeted ben­eficiaries of BISP with the net amount of Rs. 7,492.75 million, which is provided for in the budget for 2023-24.

The meeting was attended by Minister for Privatization and Inter Provincial Coordina­tion Fawad Hasan Fawad, Min­ister for Interior, Commerce & Industries Gohar Ejaz, Minister for Energy and Petroleum Di­vision Mohammad Ali, Minis­ter for Planning, Development and Special Initiatives Sami Saeed, Minister of Maritime Affairs, Communication and Railways Shahid Ashraf Tarar, Deputy Chairman Planning Commission Dr Muhammad Jehanzaeb Khan, Advisor to PM on Finance Dr Waqar Masood, federal secretaries, and other senior government officers of the relevant ministries.