WorldBusiness

The ECC has approved the abolition of sales tax on imported sugar

The ECC has approved the abolition of sales tax on imported sugar
The Economic Co-ordination Committee (ECC) has approved the abolition of sales tax on imported sugar.

According to sources, an important meeting of the Economic Co-ordination Committee (ECC) was held under the chairmanship of Finance Minister Abdul Hafeez Sheikh.

ECC sources said that the meeting approved the import of 500,000 tonnes of sugar and also approved the abolition of sales tax on imported sugar.

ECC sources said that approval has been given to abolish one per cent holding tax on raw sugar imports.

The sources further said that the textile policy 2020-25 has been postponed once again. National Freight and Logistics Policy Agenda and

The expansion of the Road to Mecca project was also postponed.

ECC sources said that a supplementary grant of Rs 10 million has been approved by the Home Ministry. The grant will be used to purchase spare parts for FC Balochistan helicopters.

The sources further said that the meeting also approved a supplementary grant of Rs 16.62 billion to the Ministry of Planning. Funding for setting up of three new courts under the Islamabad High Court was also approved.

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