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Home / Press Information Department / Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh chaired meeting of Economic Coordination Committee of the Cabinet
Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh chaired meeting of Economic Coordination Committee of the Cabinet
Islamabad, January 20, 2021 (PPI-OT): Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh, chaired the meeting of Economic Coordination Committee (ECC) of the Cabinet today. Federal Minister for Interior Sheikh Rasheed Ahmad, Minister for Privatization Mohammad Mian Soomro, Minister for Planning, Development and Special Initiatives Asad Umar, Minister for Industries and Production Hammad Azhar, Adviser to the PM on Commerce Abdul Razak Dawood, Minister for Petroleum Omer Ayub, Minister for Maritime Affairs Ali Haider Zaidi, SAPM on Revenue Dr. Waqar Masood, SAPM on Energy Nadeem Babar, Adviser to the PM on Institutional Reforms and Austerity Dr. Ishrat Hussain and Minister for National Food Secu
ECC reduces tax on commercial sugar imports to 0.25pc
Published On 20 January,2021 11:02 pm
The reduction in taxes will incentivize the sugar mills for import of 300,000 MT Raw Sugar
ISLAMABAD (Dunya News) – The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved reduction of Withholding Income Tax on commercial import of white sugar and raw sugar form 5.5% to 0.25% besides approving removal of Value Added Sales Tax on import of white sugar.
The approval was given on the presentation of summary by Ministry of Industries and Production for import of sugar with an aim to reduce upward pressure on prices of sugar and to buffer up carryover stocks before the arrival of the fresh crop.
Rare prolonged power outage exposes fragility of grid
Business
January 17, 2021
LAHORE: The last Saturday’s power breakdown that hit the entire country and couldn’t completely be tackled for long two days has once again exposed the fragility of the grid and the system’s inefficiency.
Normally power supply tends to resume in eight to 10 hours after any major power breakdown. However, power failure that struck this time around in night prolonged up to rare 48-hour duration mainly due to imbalance in power supply, thanks to chronic shortfall in primary energy sources.
Such helpless scenario exacerbated the situation as coal-fired and nuclear plants meeting base-load faltered for extended periods due to their peculiar power generation processes. Such inability of the power plants rendered whole power grid dead with no backup generation available as considerable time was needed for the startup of both coal and nuclear power units.
Top Story
December 29, 2020
KARACHI: The federal government is seemingly caught up in a crisis of its own making by either purchasing LNG at a prohibitive cost of over Rs5 billion or let the country shiver and freeze without heating fuel throughout February.
If this was not enough with no alternative fuel, the country may also be forced to generate expensive power through furnace oil. This was said by Shahzeb Khanzada while hosting Monday’s episode of Aaj Shahzeb Khanzada Kay Saath .
Khanzada said LNG tenders for February were opened on Monday in which the companies offered two bids for supplying the gas in the second fortnight of February at 20.8 percent and 32.4 percent cost of Brent.