ECC extends period for reduced withholding tax by non-filers

ISLAMABAD: The Economic Coordination Committee of the Cabinet in its meeting chaired by Finance Minister Ishaq Dar in Islamabad has approved various proposals submitted by different ministries and divisions.


It approved to procure 7.05 million tons of wheat under public sector procurement by all the four provinces and PASSCO till 31st of August.

It accorded approval to extend the period for reduced withholding tax rate of 0.4 percent on banking transactions by non-filers till 30th of this month.

The ECC approved allocation of 100 MMCFD gas to Khyber Pakhtunkhwa for use in power generation. It also approved extension in certain deadlines for upgradation and expansion of refinery projects.

It also approved Ministry of Water and Power’s proposal to open second Letter of Credit for setting up two 1000-1200 MW projects at Haveli Bahadur Shah, district Jhang and Balloki in district Kasur.