Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet today.
ECC approved the summary presented by the Ministry of Interior for Technical Supplementary Grant amounting to Rs.83.3 million for procuring services from NADRA regarding project for automation of Power of Attorney (POA) for Overseas Pakistanis. The ECC accorded approval with the direction that MOFA and M/o Interior may hold a joint consultative session to workout modalities in this regard.
Ministry of Industries and Production tabled a summary before ECC regarding continuation of the Prime Minister’s relief package-2020 for provision of five essential items on subsidized rates which is scheduled to expire on 30th September, 2021. The ECC granted extension for one-month with a direction to present a detailed summary before ECC, keeping in view, international price hike in essential food commodities.
The ECC approved the summary by M/o NFS&R, regarding award of the fifth international wheat tender to import 550,000 MT (after matching process) of wheat for the FY 2021-22.
On a summary moved by the Power Division regarding quarterly tariff adjustments of K-Electric, the ECC decided that the Power Division may approach NEPRA to review its earlier decision on the issue and present an updated summary before ECC for consideration.
Power Division tabled another summary regarding levy of Sales Tax on subsidy granted by Federal Government to DISCOs. After seeking input from all concerned, the ECC decided that the matter may be referred to the Law Division for seeking opinion and legal interpretation may be presented before the Committee for further deliberations.
The ECC considered and approved a summary, presented by the Ministry of Information Technology and Telecommunications, regarding revised budget estimates for the FY 2020-21 and FY 2021-22 respectively.
The ECC approved summary by the Power Division regarding approval of payment mechanism for TNB Liberty Power Limited. The ECC approved the proposal as part of settlement with other relevant IPPs.
Lastly, on a summary moved by the M/o Industries and Production, the ECC approved a tender for import of 100,000 MT of urea for building strategic reserves of urea fertilizer during the Rabi season FY 2021-22.
The meeting was attended by Federal Minister for Planning Asad Umar, Federal Minister for Energy Hammad Azhar, Federal Minister for Railways Azam Khan Swati, Federal Minister for National Food Security & Research Syed Fakhar Imam, Federal Minister for Interior Sheikh Rasheed Ahmad, MOS for Information Farrukh Habib, Federal Secretaries, Chairman FBR and other senior officers.
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