ECC approves amendments in NEPRA Act
The Economic Coordination Committee (ECC) has approved amendmends in Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997 which will be presented in the parliament. A session of the Economic Coordination Committee (ECC) held under the chair of Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh has concluded where the members gave approval to the amendments in Generation, Transmission and Distribution of Electric Power Act, 1997.
The amended Nepra Act will be presented by the Ministry of Power in the parliament for its final approval. During the session, ECC members have also removed legal flaws from the amendments in the act. The National Electricity and Power Regulatory Authority (Nepra) has been given authorities for allocated electricity tariff under the new regulations.
Earlier on December 30, the Economic Coordination Committee (ECC) had approved the withdrawal of regulatory, customs duty and additional customs duty on imported cotton.
The decision was taken in a meeting of ECC, held in Islamabad, with Advisor to Prime Minister on Finance and Revenue, Hafeez Shiekh in the chair. The meeting also allowed cotton import through the Torkham border.
The ECC was informed that Cotton remained duty-free till the slab of 0% was abolished in 2014-15 and Custom Duty of 1% was imposed along with 5% Sales Tax. Later on, 1% slab was increased to 2% and then 3% along with 2% additional customs duty to make it 5%.
Since 2017 the duties are withdrawn from January/February and re-imposed in July-August. It was also discussed that by January 1st, 2010 the majority of the cotton would be lifted from the farmers.
Therefore, to further protect the farmers, the ECC of the Cabinet allowed duty-free import of cotton with effect from January 15th, 2020. The ECC of the Cabinet was also briefed that under Rule 28 of the Plant Quarantine Rules of 1967 / Plant Quarantine Act 1976, cotton is only allowed through sea route