Decisions taken in Economic Coordination Committee’s meeting

Economic Coordination Committee Meeting

Islamabad:      The Economic Coordi­nation Committee (ECC) of the Cabinet held a meeting on Wednesday, presided over by the Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh.

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The committee took important decisions that are given below:

  • To provide exemptions from income tax, sales tax, and custom duties to the Gwadar port and free zone until 2039, the government approved a number of amendments in the existing laws and asked the Law Ministry to propose a legal cover.
  • Payment of salaries to employees of the Pakistan Machine Tool Factory (PMTF) and Pakistan Steel Mills (PSM) was approved.
  • The committee approved payment of Rs128 million as salary for the period from February to May 2019 to the PMTF employees.
  • Ministry of Industries and Production was directed to hold a meeting with the Strategic Planning Division (SPD), Commerce Division, Sindh Building Control Authority and Sindh Revenue Board to finalise a plan to hand over the PMTF to SPD.
  • Payment of more than Rs2 billion through budgetary allocation to the Asia Petroleum Limited (APL).

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