The Economic Coordination Committee (ECC) of the cabinet on Tuesday approved Ramzan Relief Package 2017 with subsidies worth Rs 1.6 billion on 19 commodities to provide relief to the public during Ramazan.
The ECC considered and approved proposals submitted by different ministries, chaired by Finance Minister Ishaq Dar. The meeting approved the Ramzan Relief Package 2017, after considering a proposal submitted by the Ministry of Industries and Production.
These commodities include wheat flour (atta), sugar, ghee, oil, pulses (channa, masoor, moong washed and mash washed), white chickpeas, baisen, dates, rice, squashes, black tea, milk, and spices. The commodities will be sold at subsidised rates across Pakistan through outlets of Utility Stores Corporation (USC).
In addition to the relief provided by the Ramzan Package, USC will also reduce prices on over 2,400 other items under different brands from 5 per cent to 10 per cent by obtaining a special discount from suppliers and reducing its own profit margins.
The ECC decided to increase the quantity of urea approved for exports from the existing 0.3 million metric tonnes to 0.6 million metric tonnes. The ECC also extended the deadline for export of urea from April 28, 2017 to October 31, 2017.
These decisions were made by the ECC after considering the proposal of the Ministry of Commerce, based on the recommendations of the Fertilizer Review Committee. The meeting was informed that sufficient production and inventory of urea of domestic consumption is anticipated during Kharif 2017 for allowing export.
On a proposal by the Finance Division, the ECC approved the restoration of import duty and sales tax on import of cotton with effect from July 15, 2017. The decision has been made to boost the confidence of domestic cotton growers during the upcoming sowing season.
