ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, held with Federal Minister For Finance and Revenue Senator Mohammad Ishaq Dar in the chair on Thursday approved Rs10 billion for conduct of general elections in FY 2023-2024.
The approval was made following a summary tabled by the Election Commission of Pakistan (ECP) regarding the demand for funds of Rs42.528 billion as TSG for conduct of general elections in FY 2023-2024.
The ECP is taking all necessary steps to conduct the next general election as per the constitutional responsibility and for this purpose, ECP has already asked the Finance division to release the funds.
The ECP informed the ECC members that the Finance division has asked the department to move the summary for approval. According to Finance division, the ECC allowed Rs10 billion as first release and further release on need basis.
The ECC also approved Technical Supplementary Grant (TSG) of Rs200 million in favor of the Special Investment Facilitation Council (SIFC) of PM Secretariat, which has been established to attract investment from GCC and other countries in the fields of Defence, Agriculture, Mineral, IT, and Energy.
The ECC considered a summary of the Ministry of Information & Broadcasting regarding charging electricity rates to Cinema houses. In order to revive the film industry in Pakistan, the ECC approved the proposal that Cinemas may be charged electricity as per rates admissible to industry.
The ECC also considered a summary of Ministry of Commerce regarding export of vegetable ghee/cooking oil from export processing zones to Afghanistan through land route and approved omission of Para 7(6) and para 7(7) of Export Policy Order (EPO) -2022, which specifies the conditions for exports to Afghanistan. The ECC further allowed amendment in Schedule –IIof EPO-2022 to the extent of removing the exception regarding export of vegetable ghee/cooking oil from EPZs, manufacturing bonds and export oriented units to Afghanistan.
The ECC also considered a summary of the Ministry of National Food Security & Research regarding revision of Cess rates on Tobacco for the year 2023-24.
It has asked ECC to approve Rs9.30 per kg cess rate for Plain Area, Sub-Mountainous Area, Rs5.70 Dark Air-Cured Tobacco (DAC), Rs4.38 White Patta (WP), Rs6.69 Burley, Rs4.38 Naswar / Snuff / Hookah and other Rustica Tobacco and its products and Rs6 per KG Sun Cured Virginia (SCV).
