ECC approves Rs 1.602 bln Ramzan Relief Package

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APP62-16 ISLAMABAD: May 16 - Finance Minister, Senator Mohammad Ishaq Dar chairing meeting of ECC at the Prime Minister's Office. APP

ISLAMABAD, May 16 (APP): Economic Coordination Committee (ECC) of the Cabinet Tuesday approved Ramzan Relief Package 2017, with subsidies worth Rs
1,602 million on 19 commodities to provide relief to the general public during the
upcoming holy month.
The meeting of the committee was chaired by Finance Minister, Mohammad Ishaq Dar.
These subsidized commodities include wheat flour (atta), sugar, ghee,
oil, pulses (channa, masoor, moong washed and mash washed), white grams, baisen,
dates, rice, squashes, black tea, milk, and spices.
The commodities would be sold at subsidized rates across Pakistan through outlets of
Utility Stores Corporation (USC).
In addition to the relief provided by the Ramzan package, the USC will
also reduce prices on over 2,400 other items under different brands from 5% to 10%
by obtaining special discount from vendors/suppliers and reducing its own profit margins.
Meanwhile, the ECC decided to increase the quantity of urea approved for exports from
the existing 0.3 million metric ton to 0.6 million metric ton.
ECC also extended the deadline for export of urea from April 28 to October 31.
These decisions were made by the ECC after considering the proposal of the Ministry of
Commerce, based on the recommendations of the Fertilizer Review Committee.
The ECC was informed that sufficient production and inventory of urea of domestic
consumption is anticipated during Kharif 2017 for allowing export.
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 July 15.
The decision has been made to boost the confidence of domestic cotton growers during
the upcoming sowing season.