Hafeez Shaikh to chair ECC session tomorrow

ISLAMABAD: An important session of the Economic Coordination Committee (ECC) will hold discussions over its 12-point agenda which would be chaired by finance adviser Abdul Hafeez Shaikh on Wednesday (tomorrow), ARY News reported.

The ECC members will gather tomorrow to discuss the 12-point agenda in its forthcoming session.

The committee will review oil marketing companies (OMCs) margin on petroleum products, dealers margin and exemption of Goods and Services Tax (GST) and Customs’ duty on imports of ships.

It is pertinent to mention here that the economic committee has been recommended to hike OMCs’ margin on petrol and hi-speed diesel up to 0.25 paisas.

Read: ECC approves release of 150,000 tonnes of wheat to KP

Moreover, it is also recommended to approve an increase in dealers’ margin on petrol and hi-speed diesel up to 0.34 paisas and 0.29 paisas respectively.

A summary is likely to be presented before the ECC members for the clearance of more than Rs1 billion dues on Karachi Port Trust (KPT) against Water and Power Development Authority (WAPDA), as well as the gas supplies to Habibullah Coastal Power Company.

The economic coordination committee will also review different summaries for the supplementary grants for human rights and health ministries.