ECC reviews impact of Rs 180 billion PM’s export package

APP71-14 ISLAMABAD: September 14 - Prime Minister Shahid Khaqan Abbasi chairs meeting of the Economic Coordination Committee (ECC) at Prime Minister Office. APP

ISLAMABAD, Sep 14 (APP): Economic Coordination Committee
of the Cabinet (ECC), which met here at PM Office on Thursday
with Prime Minister Shahid Khaqan Abbasi in chair, reviewed
the impact of Prime Minister’s Export Package towards boosting
country’s exports.
The Export Package worth Rs 180 billion provides
incentives to the exporters of textile and non-textile sectors
for enhancing their export potential.
The meeting noted that the package had contributed
significantly towards putting the country’s exports onto the
growth trajectory, said a press release issued by the
PM’s Media Wing here.
The meeting also considered various proposals for
expanding the scope of Export Package and to include other
sectors into its fold.
The Prime Minister directed that a committee be
constituted comprising representatives of Finance and Commerce
Divisions and the Federal Board of Revenue (FBR) to undertake
a detailed analysis of the impact of the package and also
propose changes in scope and coverage of the Export Package.
The ECC noted the availability of 2.788 million metric
tonnes of sugar in the country and authorized Commerce
Ministry to allow export of 0.5 MMT sugar to sugar mills.
The Prime Minister directed that Inter-Ministerial
Committee, already existing for this purpose, should regularly
review sugar stock, export and price mechanism and make
recommendations to the ECC in case of any abnormal price
increase in the domestic market.
The ECC also approved grant of extension in processing
period of export of wheat/wheat products from August 31, 2017
to October 30, 2017.
The meeting approved a proposal by the Petroleum
Division to reallocate upto 15 MMCF Jhal Magsi gas to the
OGDCL and to allow its sale to any third party selected
through competitive bidding process under a term Gas &
Purchase Agreement (GSPA) after fulfilling gas requirement of
Jhal Magsi town.