Decisions taken in Economic Coordination Committee’s 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.

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).