ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday asked the Finance Division to review a proposal seeking five per cent sales tax exemption on cotton seed cake.
The meeting, chaired by Finance Adviser Dr Hafeez Shaikh, referred the matter to the Finance Division for examination and asked it to submit a report the next ECC meeting.
The ECC approved a technical supplementary grant of Rs4.05 billion lapsed during the FY2018-19 under the Sustainable Development Goals Achievement Programme (SAP).
The re-allocated funds would be used under the SAP to make specific interventions as per demand of the community across the country in line with the UN Conventions.
The ECC also granted ex-post facto approval to a technical supplementary grant amounting to Rs100 million on making security arrangements in the federal capital in October. However, the ECC expressed its concern at the manner in which costly and disruptive ad hoc arrangements were made.
The ECC asked the capital administration to find a permanent solution to deal with the issue in future.
The ECC also approved a proposal for utilisation of the subsidy involving grant of Rs6bn for the Utility Stores Corporation (USC) for subsidy and procurement of essential commodities, including flour, sugar, ghee/oil, pulses and rice.
The ECC also constituted a committee headed by PM’s Adviser Razak Dawood to monitor the disbursement of subsidy and provision of commodities at a fair price
to the poor segment of the society through a transparent and effective mechanism and report back to the ECC in its next meeting.
The ECC also approved a proposal by the Finance Division for submission of supplementary budget statement (addendum) amounting to Rs170.418bn from the Federal Consolidated Fund for the FY2018-19 to the National Assembly.
The ECC also approved another proposal from the Finance Division for submission of supplementary demands for grants and appropriations for the financial year 2018-19 before the National Assembly.
The ECC approved the proposal of a technical supplementary grant of Rs7.904bn of the International Narcotics & Law Enforcement Affairs, US Embassy Islamabad for operational cost of Anti-Narcotics Force.
However, the ECC approved the proposal with instructions that such proposals involving transfer of money from external sources should be taken up by the finance ministry itself instead of the ECC and release of money be ensured through a smooth manner.
