ECC extends PM's Relief Package, ghee will be sold at Rs300 per kg at utility stores
ISLAMABAD (92 News) - Federal Minister for Finance and Revenue Miftah Ismail presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division on Monday.
Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Division Mr. Musadik Masood Malik, Federal Secretaries, Chairman FBR, Chairman OGRA and senior officers attended the meeting. Ministry of Industries and Production submitted a summary for extension of Prime Minister’s Relief Package-2020 and fixation of ghee prices at utility stores corporation. The ECC approved extension in the Prime Minister’s Relief Package-2020 up to 30th June, 2022 on all five essential items and allowed that ghee will be sold on all USC outlets throughout the country at Rs 300/kg from June 9 irrespective of the higher market prices.
The ECC further approved allocation of funds Rs. 3,447.60 million in favor of USC through Supplementary Grant. Ministry of Aviation submitted a summary for payment of sales tax for leased aircrafts on installments basis. It was informed that Pakistan International Airline Corporation Limited (PIACL) is going to induct four (04) A320 Aircrafts on dry lease basis for the period of 72 months.
Due to financial constraints, PIACL is not in a position to pay GST on the total rental value in lump sum. The ECC after considering incoming Haj 2022 and financial constraints of PIACL approved payment of GST @ 17 % i.e Rs. 1.596 billion approximately on total rental value of Rs. 9.388 billion of four (04) A320 leased aircrafts on monthly installments over the lease term starting from the date of arrival of aircrafts, including 01 already arrived.
The Ministry of Communications presented a summary on requirement of additional funds for construction of Gilgit-Shandoor road, N-140. Rs. 2000 million were allocated in the Federal Budget 2021-22, whereas actual requirement of funds to acquire land and make payments of certified liabilities is Rs. 6,000 million.
The ECC accorded approval of Rs. 4,000 million as additional funds for the project “Construction of Gilgit- Shandoor Road, N-140.” Petroleum Division submitted a summary for enhancement of Oil and Gas production from TAL blocks vis-a-vis provisional allocation of gas price. Keeping in view the shortage of gas in the country, the ECC conditionally allowed M/s MOL to commence production from Tal block namely Mamikhel South.
