ECC approves Rs 200 per MMBTU reduction in gas price for industrial sector

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ECC approves Rs 200 per MMBTU reduction in gas price for industrial sector

ISLAMABAD, Nov 25 (APP): The Economic Coordination Committee
of the Cabinet (ECC) here on Friday accorded approval to the reduction of gas price for industrial sector from Rs 600 to Rs 400 per MMBTU.
The ECC met here under the chairmanship of Minister for Finance
Senator Mohammad Ishaq Dar here.
According to a statement issued by the ministry of finance, in accordance with Fertilizer Policy 2001, the Industrial Sector gas
sale price would also be applicable to Fertilizer sector for fuel stock.
The ECC also considered and approved the summary presented by the Earthquake Reconstruction and Rehabilitation Authority (ERRA) regarding exemption of taxes on procurement of furniture and supplies of 15 District Health Units (DHU) and at three colleges located in the 2005 earthquake affected areas in the AJ&K and Khyber Pakhtunkhwa.
The exemption was limited to the transaction SDF grant. Saudi Fund for Development has provided funds through a grant and mandated
UNICEF for procurement of furniture and supplies for the reconstruction of these Educational institutions.
The exemption has to be obtained from the ECC as the powers to
grant exemption through SRO’s have been taken away from Federal Board of Revenue (FBR)/Revenue Division vide Finance Act, 2015.
The ECC also accorded approval to the proposal of the Ministry of
National Food Security and Research regarding extension in export
period of 30 days from the date of approval i.e. June 15, 2016 on
the same terms and conditions already approved by the ECC in its
meeting on March 18, 2016.
The chairman said that the extension was limited for the balance
quantity already approved exports for Sindh and Punjab.
The Ministry apprised the ECC that the Food Departments of the
governments of Sindh and Punjab and All Pakistan Flour Mills Associations and exporters have pleaded for extension as the specified quantity of wheat and wheat flour (Aata) could not be exported within the specified period due to Eid holidays and transportation problems etc.
The ECC was also approached by the Ministry of National Food Security and Research to grant extension of thirty days to allow the rebate payment on export of wheat and wheat flour September 30, 2015
to October 30, 2015.
It was decided that the extension on payment of export rebate would only be available to those exports which have been shipped and
transported (GD) on or till September 30, 2015 deadline.
The ECC upheld the earlier decision that export of wheat and wheat flour (Aata) made during the period from October 01,2015 to
January 12, 2016 shall not be entitled for any such support.
The ECC also gave approval to the settlement reached between the Ministry of Water and Power and the Government of Sindh to resolve the issue of outstanding bills of Government of Sindh Departments and HESCO/SEPCO for the period of July 2010 to July 2016.
The Government of Sindh will clear the outstanding amount of Rs. 27.398 billion in six equal monthly installments starting from September 2016.
In the same decision, the Chair also directed Ministry of Water and
Power for installing AMR meters (smart meters) in the area within four months, with 50% of the cost of the installation of meters to be borne by the Government of Sindh so that the issue may be settled on permanent basis.