ECC approves Rs620.85 million for SSGC for PSM gas supply – Latest News – The Nation
ISLAMABAD – The Economic Coordinating Committee (ECC) of the Cabinet on Friday approved the release of Rs 620.85 million for SSGC for gas supply from Pakistan Steel Mills (PSM).
Federal Minister of Finance and Revenue, Mr. Miftah Ismail, chaired the meeting of the Cabinet Economic Coordinating Committee (ECC) at the Finance Division. The Ministry of Industry and Production has submitted a summary for the release of funds to SSGC for the gas supply of Pakistan Steel Mills (PSM). It was reported that due to shutdown of production activity in Pakistan Steel Mills (PSM), low flame gas of 2 MMCFD is supplied to PSM mainly to preserve coke oven batteries and refractory furnaces with an average monthly bill of 80 million rupees (approx.). The ECC, after discussion, authorized the release of Rs 620.85 million for the payment of 8 months of unpaid gas bills i.e. from July 2021 to February 2022.
The Department of National Food Security and Research has filed a summary of the tobacco Cess rate review for the year 2022-23. Current tax rates on all types and varieties of tobacco notified by the Federal Government on July 14, 2021 are to be increased in accordance with the increase in the Minimum Indicative Price (MIP) for all types of tobacco notified on February 10, 2022.
The Ministry of Communication presented a summary of the funds needed to settle the debts of utility companies/partner agencies of the Pakistan Post Department (PPOD). Collection of utility bills is one of the agency functions performed by PPOD and the amount thus collected was deposited in the central account-1 of SBP. Liabilities in the amount of Rs 62.33 billion have been accrued till March 31, 2022. Rs 25 billion had already been approved on 15-04-2022 for payment to utility companies. The ECC, after detailed discussion, authorized the release of funds amounting to Rs 37.33 billion for the discharge of the remaining debts of utility companies / partner agencies by the PPOD after verification of the amount claimed by SBP .
The Ministry of Commerce presented a summary on the collection of regulatory duty on the importation of Motor Spirit (MS). He was advised that the importation of MS is subject to a 10% customs duty under the Fifth Schedule of the Customs Act 1969, but is subject to 0% under the Free Trade Agreement. -China-Pakistan Exchange (CPFTA). Those benefiting from the FTA exemption pay no customs duty while others pay a 10% customs duty.
The ECC, after discussion, in order to remedy this anomaly, authorized the levying of a statutory duty of 10% on the import of SM. However, when customs duties of 10% are paid on the import of MS, they will be exempt from levying regulatory duties.
The ECC also deliberated and approved a summary submitted by the Finance Division on the Fee Award Policy with the direction that the policy proposal may be redefined as the ECC Chair may, at his or her discretion, grant additional fees to federal government employees.
The ECC has also approved the following additional/technical grants: (i) Rs 40.5 billion for the Ministry of Commerce for payment claims approved by SBP, under the previous government’s duty drawback schemes ( DLTL/LTLD) of the textile and non-textile sectors. (ii) Rs 2.214 billion for the Federal Directorate of Education (FDE) and Rs 300 million for the National Commission for Human Development (NCHD). (iii) Rs 3.960 billion to HEC under the World Bank Project – Development of Higher Education in Pakistan. (iv) Rs. 70 million to the Higher Education Commission for the project titled “Awarding 3,000 Scholarships to Afghan Students”. (v) Rs 227.924 million for Gilgit-Baltistan Council and its departments. (vi) Rs 201.091 million for the Ministry of Housing and Public Works. (vii) 1,812.437 million rupees and 13,785 million rupees in favor of the Ministry of Interior. (viii) 81.791 million rupees in favor of Geological Survey of Pakistan. (ix) Rs 123.411 million for the National School of Public Policy, Lahore. (x) Rs 578.11 million for the Ministry of Climate Change. (xi) Rs 242.377 million for Pakistan Meteorological Department (PMD).
Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema, Federal Minister for Commerce Syed Naveed Qamar, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, Federal Secretaries and Senior Officials attended in the meeting.