ECC to approve Ramazan subsidy, border trade agreements

ISLAMABAD: Economic Coordination Committee (ECC) of the federal cabinet will approve the Ramazan subsidy package for Utility Stores and finalize rules for border trade agreements with Afghanistan and Iran on Wednesday, ARY NEWS reported.

According to sources privy to the agenda of the ECC, the committee would mull over the eight-point agenda which included a summary from the industries ministry for approval of a Ramazan package for Utility Stores.

It would also mull over measures to deal with rising sugar prices and develop sugar stocks in order to deal with the issue. “The meeting is likely to approve border trade agreements with Afghanistan and Iran,” they said.

The ECC would also approve Rs450 million technical supplementary grants to NIH, Rs 200 million grant to housing and works department, Rs20 million grant for economic development plan in Sindh, Rs 684 million technical grant for national identification system and cash development loan grant for Pakistan Broadcasting Corporation.

During the last Economic Coordination Committee (ECC) meeting of the federal cabinet has fixed new prices of naswar, hookah and other tobacco products.

During the session, the Ministry of National Food Security & Research submitted proposals for Minimum Indicative Prices (MID) of tobacco.

The ECC after detailed deliberation considered and approved the following MIP of various types of tobacco crop for the year 2022 for further submission to the federal cabinet for its approval.

The new rates of Flue Cured Virginia (FCV) for the plain area will be Rs240 per kilogram and Rs281.13 per kilogram for the sub-mountainous area.

The committee fixed the price of Dark Air-Cured Tobacco (DAC) up to Rs149.09 per kilogram and Rs123 per kg for White Patta (WP). The new price of Burley will be Rs187.5 per kg, whereas, naswar, snuff, hookah and other Rustica tobacco and its products’ prices will be Rs123 per kilogram.