Islamabad July 22 2023: The Economic Coordination Committee (ECC) on Thursday approved a summary of the Election Commission of Pakistan (ECP) regarding the demand for funds of Rs42.528 billion as a Technical Supplementary Grant (TSG) for conduct of general elections fiscal year 2023-2024.
The Cabinet Committee that met here with Minister for Finance and Revenue Senator Mohammad Ishaq Dar in the chair allowed Rs10 billion as the first release and further release on a need basis, said a press release issued here.
Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Climate Change Senator Sherry Rehman, Minister of State for Petroleum Musadik Masood Malik, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Coordinator to the PM on Economy Bilal Azhar Kayani, Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, Federal Secretaries, and other senior officers attended the meeting.
The ECC also approved TSG of Rs 200 million in favor of the Special Investment Facilitation Council (SIFC) of the PM Secretariat, which has been established to attract investment from GCC and other countries in the fields of Defence, Agriculture, Mineral, IT, and Energy.
The ECC considered a summary of the Ministry of Information & Broadcasting regarding charging electricity rates to Cinema houses. In order to revive the film industry in Pakistan, the ECC approved the proposal that Cinemas may be charged electricity as per rates admissible to the industry.
The Committee also considered a summary of the Ministry of Commerce regarding the export of vegetable ghee/cooking oil from export processing zones to Afghanistan through land route and approved the omission of Para 7(6) and Para 7(7) of Export Policy Order (EPO) -2022, which specifies the conditions for exports to Afghanistan.
It further allowed amendment in Schedule –II of EPO-2022 to the extent of removing the exception regarding the export of vegetable ghee/cooking oil from EPZs, manufacturing bonds, and export-oriented units to Afghanistan.
The ECC also considered a summary of the Ministry of National Food Security & Research regarding the revision of Cess rates of Tobacco for the year 2023-24. The ECC approved revised Cess rates for the year 2023-24 as per Section 9 of PTB Ordinance 1968, on the basis of MIPs for the year 2023-24.