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Saturday, January 19th, 2019
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The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet today at the PM Office.

ECC approved a summary submitted by the Finance Division regarding lifting of withholding tax on small farmers schemes. The summary sought exemption from the purview of section 236U of Income Tax Ordnance, 2001 to the Crop Loan Insurance Scheme and livestock Insurance Scheme which are aimed at providing risk cover to mitigate losses in case of natural disasters.

ECC also approved extension in the export of wheat date from 30th November 2016 to 31 December 2016. It was also approved that same rate of rebate would be given on export of wheat products like Suji, Maida and wheat flour fine (Aata) as available on per Kg wheat export. Meaning thereby that one Kg of Suji, Maida and wheat flour Fine (Aata) will be exported against one Kg of wheat issued so there will be no extra claim of rebate. As more than 3 million tons exportable surplus wheat is available, the Ministry of National Food Security and Research proposed to allow export of the equal quantity of Suji, Maida and wheat flour Fine (Aata)/ equivalent to the quota of wheat issued.

The Ministry of National Food Security and Research proposed maintaining the Minimum Guaranteed Price (MGP) of Wheat at Rs.1300 per 40 Kg for wheat crop 2016-17. ECC accorded approval to the proposal for maintaining the MGP of Rs.1300/- per 40 Kg for wheat crop 2016-17.

ECC also approved relending the China Eximbank Loans to Pakistan Atomic Energy Commission (PAEC) for Chashma Nuclear Power Project 3 and 4 on similar terms/lines available to the loans relent to provincial governments / departments. The Chinese loans will be relent to PAEC at actual terms and conditions available to the Government of Pakistan and also the exchange rate risk will be borne by PAEC.

The Ministry of Petroleum and Natural Resources apprised the ECC regarding increase in natural gas production of more than 83 to 84 MMCFD from Nashpa field. It also stated that the M/s SNGPL is also keen to receive the additional gas due to demand-supply imbalance of natural gas on its system. The ECC approved the Ministry of Petroleum & Natural Resources proposal for allocation of the additional gas up to 84 MMCFD produced from Nashpa field to SNGPL to cope with demand-supply imbalance on its system.

ECC also accorded approval in principle for re-enactment of OGRA [Amendment] Ordinance, 2009 [XVI of 2009] with retrospective effect containing validation and sun-set clauses from the date of promulgation of the Ordinance with a condition not to change the present system of Sales Tax collection.

ECC approved the Memorandum of Agreement signed on 20th May 2016 between the Ministry of Petroleum and Natural Resources and the Balochistan government for extension of Sui gas mining lease agreement for next ten years.

Source: Ministry of Information, Broadcasting and National Heritage.

Erdogan Arrives In Uzbekistan For Talks

Turkish President Recep Tayyip Erdogan has paid his respects at the grave of former Uzbek President Islam Karimov, who died earlier this year after more than 25 years running the Central Asian country.Erdogan on November 18 met with acting Uzbek Presid…

Making growth matter for the poor

Islamabad, November 10, 2016 (PPI-OT): Pakistan’s economic growth in fiscal year (FY) 2016 reached 4.7 percent – the highest rate in eight years and a significant increase from the previous […]


In order to observe Black Day, and reaffirm solidarity with the oppressed people of the Indian Occupied Jammu & Kashmir (IOK), a large number of Pakistan community members, students and Turkish guests attended an event at Pakistan Embassy Ankara on Wednesday evening, says a press release received here today from Ankara.

The programme began with the observance of one-minute silence for all the martyrs of Kashmir, Police Training School Quetta and victims of terrorist attacks in Pakistan and Turkey.

Speakers at the event highlighted growing human rights violations in IOK in the aftermath of the extra judicial killing of young Kashmiri leader Burhan Wani. They strongly condemned the recent spate of violence and oppression unleashed by the security forces. All the participants wore ‘black armbands.’

Mr. Burhan Kayaturk, Member of Parliament from Van and Chairman of Turkey-Pakistan Cultural Association, said the world was watching brutalities in Occupied Kashmir but was largely silent about it. He said Turkey would continue to support the oppressed people of Kashmir and would always stand by Pakistan. He reaffirmed Turkey’s support for the resolution of the Kashmir dispute in accordance with UN Security Council resolutions through a free and impartial plebiscite.

In his remarks on the occasion, Pakistan’s Ambassador to Turkey Sohail Mahmood informed that since the martyrdom of Burhan Wani on 8 July 2016, over 150 Kashmiris had lost their lives while more than 15,000 were injured. Due to the use of pellets by Indian security forces, the eyesight of over 700 youth had been severely affected, and 150 had become permanently blinded. He added that in the wake of excessive use of force by the occupying forces, some voices had been raised, including by the UN Secretary General and the OIC. He hoped that the international community would pay urgent attention to the tragedy unfolding in Occupied Kashmir and efforts would be made to provide relief and justice to the Kashmiri people. The Ambassador also expressed sincere gratitude for the unflinching support of the leadership, Government and people of Turkey for the Kashmir cause.

A documentary was shown that highlighted Indian atrocities, particularly against children, women and elderly. Students of Pakistan Embassy School presented Kashmiri song Ansoon ki zuban koi sunta nahi. The event concluded with prayer (dua) for martyrs and early recovery for the injured Kashmiris, which was followed by the lighting of candles by all the participants.

Source: Ministry of Information, Broadcasting and National Heritage