ECC meets, Asad calls re­port for PSM re­vival

The Financial Daily - - FRONT PAGE -

ISLAMABAD: A meet­ing of the Eco­nomic Co­or­di­na­tion Com­mit­tee (ECC) of the Cab­i­net on Tues­day with Fi­nance Min­is­ter Asad Umar in chair sum­moned a re­port for re­vival of Pak­istan Steel Mills.

The ECC sum­moned a re­port from the Min­istry of In­dus­tries for turn-around of Pak­istan Steel Mills.

The cab­i­net com­mit­tee chaired by Fi­nance Min­is­ter Asad Umar, di­rected the min­istry to sub­mit its re­port on the mat­ter soon.

The ECC also con­sid­ered the re­vival of Pak­istan Ma­chine Tool Fac­tory.

More­over, the meet­ing in­vited a re­port from the Rev­enue Divi­sion about de­tails of sales tax and cus­tom duty on im­port of cot­ton and the im­pact of with­drawal of th­ese taxes.

The was sched­uled to dis­cuss with­drawal of cus­tom duty from the im­port of cot­ton and a pro­posal to ex­empt the im­ported cot­ton from sales tax was also on the agenda of the com­mit­tee.

The ECC in its pre­vi­ous meet­ing ap­proved the pro­posal of the en­ergy min­istry for sup­ply of up to 25 MM­CFD ad­di­tional gas from Adhi Gas Field to Sui North­ern Gas Pipe­lines Ltd. (SNGPL) to meet the ex­ist­ing gas de­mand on the sys­tem.

On the oc­ca­sion, ECC also re­viewed the de­mand and sup­ply sit­u­a­tion of urea in the coun­try.

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