Finance Minister chairs meeting of ECC

ISLAMABAD,June 17(APP):The Economic Coordination Committee (ECC) of the Cabinet considered and approved proposals submitted by different ministries, in its meeting held on Saturday at the Prime Minister’s Office, chaired by Finance Minister, Senator Mohammad Ishaq Dar.

The ECC considered a proposal submitted by the Ministry of Commerce regarding the Prime Minister’s Package of Incentives for Exporters, and decided to extend the date of submission of claims till 30th September 2017 for shipments / exports made up to 30th June 2017. The ECC had approved the Prime Minister’s Package of Incentives for Exporters in January 2017, which had been formulated with a view to mitigate exporters’ difficulties and enhance the country’s exports.
The ECC considered and approved a proposal of the Ministry of National Food Security & Research to grant extension in the export period of wheat and wheat products beyond 15th March 2017 till 31st August 2017. Only those wheat exporters, who have already shifted wheat from godowns of food departments prior to 15thMarch 2017,will be allowed to benefit from this extension. The ECC directed that this extension will be allowed subject to verification by the provincial food departments and PASSCO that these exporters had lifted wheat from the godowns prior to 15th March 2017.
The ECC also considered and approval another proposal of the Ministry of National Food Security & Research regarding outstanding claims of PASSCO on account of wheat supplied to Afghanistan.
While considering a proposal of the Federal Board of Revenue, the ECC decided to recommend to the Federal Government to extend the period of applicability of reduced rate of 0.4% on banking transactions of non-filers till 30th September 2017.
The ECC recognized the contributions and services of Mr. Tariq Bajwa, both as an ex-officio participant of the ECC, and as a civil servant in various capacities in the federal and provincial governments, including his current role as Finance Secretary. Mr.Bajwa will be retiring from civil service on 18th June 2017.