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Fbr Agreement With Traders

Fbr Agreement With Traders

Minister of Planning, Development and Special Initiatives Asad Umar, Minister of Production and Industry Hammad Azhar, Minister of Privatization Muhammad Mian Soomro, Advisor to Prime Minister of Commerce Abdul Razak Dawood, Minister of Power Omar Ayub Khan, Minister of Maritime Affairs Syed Ali Haider Zaidi, Oil sapm Nadeem Babar, SAPM for revenue Dr. Waqar Masood and the Prime Minister`s Advisor on Institutional Reforms and Austerity Ishra t Hussain also attended the meeting. The Governor of the State Bank of Pakistan, Dr. Reza Baqir, participated in the meeting via videoconference. The Ministry of Commerce has submitted to the CEC a proposal to remove the 5% duty on imports of cotton yarn by 30 June 2021. After a thorough discussion, the President approved the removal of tariffs on cotton yarn imports to increase value-added exports. The Ministry of Commerce presented another summary to reconsider the previous CEC decision of 19 October 2020 on the procedure for the registration of electricity, LNG and gas in export-oriented sectors (formerly zero-rating sectors) under the licensing regime. After a thorough discussion, the Chair requested the maintenance of the status quo, provided that FBR, in agreement with the Ministry of Commerce, could register new producers or exporters in five export-oriented sectors (formerly five zero-rated sectors) by June 2020. The communications department has asked the ECC to convert loans from the National Highways Authority into a Government Grant or to forego much-needed tax space. A detailed presentation was made before the forum in order to transform NHA into a self-sustaining, performance-based organization.

The ECC`s mandate is to form a sub-committee chaired by the Minister of Planning, Development and Special Initiatives, SAPM Nadeem Babar, the Minister of Maritime Affairs Ali Zaidi, the Secretary of Finance and Communication, to develop a comprehensive proposal that proposes, within one month, a roadmap for reducing turnover for NHA. NHA also benefited from a month-long moratorium to develop details and submit recommendations on NHA`s financial viability ahead of the forum. ECC recommended a summary submitted by the Industries and Production Division to allow the release of funds to PSM for payment instead of gas supply to SSGC through a supplementary technical subsidy (TSG). . . .


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