ECC meets, Asad calls report for PSM revival
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.