Meeting of the Economic
Coordination Committee (ECC) was held today at PM Office with Prime minister
Shahid Khaqan Abbasi in chair.
The meeting reviewed the impact of
Prime Minister’s Export Package towards boosting country’s exports. The Export
Package worth Rs. 180 billion provides incentives to the exporters of textile
and non-textile sectors for enhancing their export potential. The meeting noted
that the Package has contributed significantly towards putting country’s
exports into growth trajectory. The meeting also considered various proposals for
expanding the scope of Export Package and to include other sectors into its
folds. The Prime Minister directed that a committee be constituted comprising
of representatives of Finance, Commerce division and FBR to undertake a
detailed analysis of the impact of Package and also propose changes in scope
and coverage of the Export Package.
The ECC noted the availability of
2.788 million metric tonnes of sugar in the country and authorized Commerce
Ministry to allow export of 0.5 MMT sugar to sugar mills. The Prime Minister
directed that Inter-Ministerial Committee, already existing for this purpose,
should regularly review sugar stock, export and price mechanism and make
recommendations to the ECC in case of any abnormal price increase in the
domestic market.
The ECC also approved grant of
extension in processing period of export of wheat/wheat products from 31st August
2017 to 30th October 2017.
The meeting also approved a proposal
by the Petroleum division to reallocate upto 15 MMCFD Jhal Magsi gas to M/s
OGDCL and to allow its sale to any third party selected through competitive
bidding process under a Term Gas & Purchase Agreement (GSPA) after
fulfilling gas requirement of Jhal Magsi town.
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