ECC approves tax relief for telecom sector

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved in principle the proposal aimed at facilitating the telecom sector by the waiver of certain taxes.

“In order to facilitate the Telecom sector by the waiver of certain taxes, ECC decided that the proposal may be granted approval in principle,” said a press statement issued by the Finance Ministry.

Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the Cabinet Division.

The ECC also approved the Technical Supplementary Grant of 109.47 million rupees to the Ministry of Defence for the survey of the coastal areas.

The Committee also approved the summary moved by the Ministry of Energy for the allocation of another 38 MMCFD gas from 3 new wells Rehman 6,7 and 8 to M/S SSGCL, subject to all regulatory approvals. The price of gas will be as per the applicable petroleum policy.

The ECC granted approval for the renewal of the contract with Tavanir Iran for the purchase of 104MW of electricity subject to vetting by the Ministry of Law and Justice. The contract, if approved by the Ministry of Law and Justice will be valid till 31st December 2021.

The meeting was attended by Minister for Railways, SAPM on Petroleum, Adviser Commerce, Adviser to PM on Revenue and Adviser to PM on Institutional Reforms and Austerity.