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Regulatory duty increased on import of sugar, wheat

Latest Update: June 18, 2015 | 178 Views
ECC

ISLAMABAD: Economic Coordination Committee of the Cabinet has increased Regulatory Duty on import of sugar from 20 percent to 40 percent and on wheat from 25 percent to 40 percent.

Decision to this effect was taken at a meeting of the committee in Islamabad under Finance Minister Ishaq Dar.

The approval was given as per demand of the farmers’ community and in face of availability of abundant stocks of these commodities in the country.

Finance Minister asked the concerned authorities to keep an eye on the price trend of both commodities and urged sugar mill owners to clear dues of sugarcane farmers on priority.

The meeting approved extension in time for export of wheat and wheat flour for Sindh and Punjab up to 31st of next month.

It approved continuation of subsidy upto 31st of December next year for agri-consumers of Balochistan to bring the farming community of Balochistan at par with other farming communities of the country.

The ECC decided to hand over all cases of non-payment of electricity dues for three years preceding first of July 2012 to NAB for recovery.

It also approved package of incentives containing 20 to 30 percent rebate for those who pay their dues.

The meeting approved issuance of Sovereign Guarantee for procurement of six Maritime Patrol Vessels for Pakistan Maritime Security Agency on soft loan basis at a cost of 135 million dollar.

The ECC approved sixty-four million rupees for payment of two months salaries to the employees of Pakistan Machine Tool Factory.