Friday, August 19, 2022

Approval to continue subsidy on five basic items at utility stores

The Economic Co-ordination Committee (ECC) allowed the import of 500,000 tonnes of wheat and Pakistani rupees in rupees from Afghanistan. Subsidies on five basic items at utility stores have been approved to continue.

A meeting of the Economic Co-ordination Committee was held under the chairmanship of Finance Minister Muftah Ismail in which the committee approved the lifting of the ban on import of luxury and non-essential items from June 30, 2022.

A meeting of the Cabinet’s Economic Co-ordination Committee, chaired by Finance Minister Muftah Ismail, also approved the import of 500,000 tonnes of wheat from Afghanistan in Pakistani rupees.

The Economic Co-ordination Committee (ECC) has approved the continuation of subsidies on five basic items at utility stores. It has been directed to prepare a cost sharing plan in consultation with the four Provincial Chief Secretaries and NDMA.

The ECC has set up a committee to issue telecom licenses. The meeting approved imports from Afghanistan in Pakistani currency (Pakistani Rupees) for which amendments to the Import Policy Order will be made.

The meeting also approved the import of 120,000 tonnes of wheat for Afghanistan under the World Food Program.

The ECC meeting also approved funds for payment of mark-up of Heavy Electrical Complex.

The meeting also approved the technical supplementary grant of the Ministry of Economic Affairs and the Ministry of Planning and the provision of funds to the Bank of Khyber for the payment of mark-up by the Higher Education Commission. Approval has also been given to issue technical supplementary grants for the use of foreign aid in cannon.

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