Abb Takk News

ECC approves 1.6 Billion rupees Ramazan package

Islamabad (May 16, 2017):The Economic Coordination Committee (ECC) has approved Ramazan Relief Package with subsidies worth over one point six billion rupees to provide relief to the general public during the upcoming Ramazan.

The approval was accorded at a meeting of the Committee presided over by Finance Minister Ishaq Dar in Islamabad today.

Under the package, nineteen food items will be provided to people through utility stores at subsidized rates.

Food items include wheat flour, sugar, ghee, oil, pulses, white grams, baisen, dates, rice, squashes, black tea, milk, and spices.

Moreover, the Utility Stores Corporation will also reduce prices of over 2,400 other items from 5 to 10 percent by obtaining special discount from suppliers and reducing its own profit margins.

The ECC also decided to increase the quantity of urea approved for exports from the existing 0.3 to 0.6 million metric tons.

The Committee also extended the deadline for export of urea till 31st October.

On a proposal by the Finance Division, the ECC approved the restoration of import duty and sales tax on import of cotton with effect from 15th July this year.

The decision has been made to boost the confidence of domestic cotton growers during the upcoming sowing season

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