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ECC waives up to 10% import duties


ECC waives up to 10% import duties
Diverts Rs11.7b from Covid-related budget for constructing hospitals in Punjab
The ECC was informed that this year the cotton production is estimated at 7.7 million bales and the country needs to import up to six million bales. PHOTO: PID
ISLAMABAD:
The government on Wednesday approved to divert Rs11.7 billion from Covid-19 related budget for construction of hospitals in Punjab amid its inability to lay an infrastructure to cope with the growing patients of the respiratory disease.
The Economic Coordination Committee (ECC) of the cabinet allowed diverting Rs11.7 billion from Covid-19 budget for mother and child care hospitals. The ECC also waived up to 10% import duties to reduce the cost of cotton yarn import after the government could not develop a national consensus to allow cheaper imports from India. ....

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ECC withdraws customs duty on cotton yarn import


ECC withdraws customs duty on cotton yarn import
  Published On
ECC also approves Rs11.7b for mother & child hospitals in Punjab
ISLAMABAD (Dunya News) – The Economic Coordination Committee (ECC) of the Cabinet Wednesday withdrew Customs Duty on import of cotton yarn till June 30,2021, to ensure smooth supply of the commodity to the value-added industry, while bridging the gap between domestic production and overall demand for the inputs.
The summary for withdrawal of Customs Duty on import of Cotton Yarns under PCT 5205, 5206 and 5207 was presented by Secretary, Ministry of Commerce before the cabinet committee, the meeting of which was chaired by the Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar. ....

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