Islamabad October 11, 2021: Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet, held at the Finance Division.
The ECC considered and approved a summary presented by the Ministry of Information Technology and Telecommunication regarding allocation of Rs. 2 billion as a single line budget for Pakistan Software Export Board (PSEB), an apex Government body, mandated to strengthen and promote the IT sector exports of Pakistan.
Moreover, the ECC also approved the allocation of Rs. 4 billion to PSEB for disbursement of cash reward incentive in order to incentivize IT exports and to encourage documentation of exporters/exports. The cash reward incentive shall be provided for the IT and IT-enabled services exporters promoting export proceeds through banking channels via SBP allocated banking codes.
Lastly, Ministry of Commerce presented a Textile and Apparel Policy, FY 2020-25. After due deliberation, the ECC constituted a sub-committee comprising of representatives of Ministry of Commerce, Finance Division, Ministry of Industries and Production, Power and Petroleum Divisions, FBR and State Bank of Pakistan to review and present an updated policy before ECC in a couple of weeks.