ECC removes 45pc duty on pine nuts import from Afghanistan

ISLAMABAD: The Economic Coordination Committee (ECC) on Friday approved removal of 45 percent regulatory duty on pine nuts (chilghoza) from Afghanistan to encourage legal import of unprocessed nuts, which could then be processed in Pakistan for export.

The committee, which was virtually presided over by Finance Minister Shaukat Tarin also approved technical supplementary grants worth Rs21.327 billion along with $11.6 million compensation for Chinese workers killed and wounded in the July 14 Dasu Hydropower Project attack.

Participants included federal ministers for national food security, industries, and water as well as federal secretaries and senior officials.

To fulfil urea fertiliser requirement for the remaining Rabi season 2021-22, the meeting also approved gas tariff of Rs839/MMBTU for Fatima Fertilizer- Sheikhupura plant and Agritech, both connected to Sui Northern Gas Pipeline Limited, for February and March.

The ECC approved Rs4 billion supplementary grant under the Pakistan Raises Revenue Programme (PRRP) for Financial Year 2021-22 for the Federal Board of Revenue. It also approved Rs5 billion in favour of Ministry of Planning, Development and Special Initiatives for conducting the 7th Population and Housing Census. Another Rs78.5 million were approved for the projects of the ICT administration, Islamabad by the Ministry of Interior.

The ECC also approved Rs60 million supplementary grant for the Ministry of Interior within sanctioned budget for purchase of spare parts for helicopter maintained by HQs Frontier Corps Baluchistan North, and another Rs3 million within sanctioned budget for Ministry of Interior for purchase of spare parts for helicopter maintained by HQs Frontier Corps KP (North). Re-allocation of Rs226.8 million surrendered funds for the year 2021-22 under Sustainable Development Goals Achievement Programme (SAP) were also approved in favour of Interior Division for further release to the ICT Administration.

The committee also approved rupee cover of $65 million (equivalent to Rs11.960 billion) to Ministry of National Health Services and Coordination, committed by Islamic Development Bank, to utilise the IsDB loan under “IVAC Covid-19 Vaccine support for Pakistan.”

During the meeting, the ECC approved the summary presented by the Commerce Ministry seeking permission to export selected commodities to Afghanistan against rupee, and added the commodities in the list of items of Export Policy Order 2020.

Noting export growth, ECC approved the summary tabled by the Commerce Ministry seeking enhancement of quota limit for export of samples to $25,000 or 0.1 percent of actual export proceeds during the last financial year in US dollars per exporter per annum.

Engagement of third party for monitoring and evaluation of Kamyab Pakistan Programme was also approved.

Finance Division presented a summary to resolve the issue of reversal of Foreign Commonwealth and Development Office (FCDO) unspent grant funds. It proposed establishment of a new Credit Guarantee Company (CGC) having 56 percent shareholding of FCDO through Karandaaz (unspent funds) and 44 percent shareholding of the government, for issuing credit guarantees against financing in the SME sector. The ECC discussed and approved the proposal.

Approval was also given for the constitution of an advisory committee for the release of IMT/5G spectrum. The committee would be headed by the finance minister.

Ministry of IT also presented draft policy directive of the Pakistan Telecommunication (Re-Organisation) Act 1996 for renewal of cellular license of Pakistan Mobile Communication Limited (PMCL/Jazz). The ECC after discussion approved the summary.