ECC approves export of selected commodities to Afghanistan against Pakistan’s currency

The ECC approved a summary presented by Ministry of Commerce and allowed removal of 45 % Regulatory Duty on the import of Chilghoza from Afghanistan as the reduction tariff on this item will encourage the legal import of unprocessed Chilghoza for processing in the country for export and will also be instrumental in creation of jobs in the far flung areas of border regions of Khyber Pakhtunkhwa and economically backward areas of Baluchistan.

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Islamabad, Federal Minister for Finance and Revenue Mr. Shaukat Tarin, virtually presided over the Economic Coordination Committee (ECC) of the Cabinet, today. Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, Federal Minister for Water Resources Chaudhry Moonis Elahi, Federal Secretaries and senior officers attended the meeting. The ECC, considering the food crisis and prevailing situation of Afghanistan, approved the summary presented by the Ministry of Commerce and allowed the export of selected commodities to Afghanistan against Pakistan currency by adding them to the list of items at Para-7(1) of Export Policy Order, 2020. The ECC, while noting the growth in exports, approved the summary tabled by the Ministry of Commerce to enhance the quota limit for export of samples to twenty-five thousand US dollars or 0.1% of actual export proceeds during the last financial year in US dollars per exporter per annum, by amending relevant paras of Export Policy Order, 2020. The ECC approved a summary presented by the Ministry of Commerce and allowed removal of 45 % Regulatory Duty on the import of Chilghoza from Afghanistan as the reduction tariff on this item will encourage the legal import of unprocessed Chilghoza for processing in the country for export and will also be instrumental in the creation of jobs in the far-flung areas of border regions of Khyber Pakhtunkhwa and economically backward areas of Baluchistan. The ECC approved a proposal submitted by the Finance Division for engaging the services of a third party to carry out the Monitoring and Evaluation ( M&E) functions of the Kamyab Pakistan Programme (KPP). Pakistan Poverty Alleviation Fund (PPAF) was engaged for Monitoring and Evaluation of KPP. However, PPAF has not been able to undertake M & E responsibilities due to its legal status. Finance Division presented a summary to resolve the issue of reversal of Foreign Commonwealth and Development Office (FCDO) unspent grant funds under an amendment to MoU with a proposal to establish a new Credit Guarantee Company (CGC) having 56% shareholding of FCDO through Karandaaz (unspent funds) and 44% shareholding of GOP, with the mandate of issuance of Credit Guarantees against financing in SME Sector. The ECC discussed and approved the proposal. Ministry of Water Resources tabled a summary on a compensation package for the affected Chinese nationals of the Dasu Hydropower Project incident. The ECC after deliberation and considering the depth of our relationship with China approved the proposal of payment of US dollar 11.6 million as a goodwill gesture on a government level. Ministry of Industries and Production presented a summary on the Urea fertilizer requirement for the remaining Rabi Season 2021-22.

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