ISLAMABAD: The Economic Coordination Committee (ECC) of the bureau on Thursday endorsed the proposition of the Federal Board of Revenue (FBR) in regards to continuation of 0.3 percent withholding charge on non-filers under Section 236-P of the Income Tax Ordinance, 2001 till end of February.
The ECC, which was led by Finance Minister Ishaq Dar, endorsed reallocation of the 60MMCFD Mari shallow gas to its unique allotees (Fauji Fertilizers, Fatima Fertilizers and Engro Fertilizers) with impact from February 22. The ECC endorsed the proposition put together by the Ministry of Industries and Production for waiver of the extraordinary measure of Rs51.50 million as advance from the central government to Shahdadkot Textile Mills in light of the fact that the unit has been exchanged and the outlet has settled the cases of particular lenders according to accessibility of assets and deals continues.
The Sindh High Court allowed the endorsement for the liquidation process.
On the proposition moved by the Ministry of Petroleum and Natural Resources for deregulation of the CNG costs, the ECC constituted a board of trustees comprising of the unique collaborator to the leader on human rights, petroleum secretary, money secretary, law secretary, FBR executive and the administrator of the Oil and Gas Regulatory Authority (OGRA). The board will investigate all parts of the proposition and give its suggestions to the ECC for a definite conclusion.
The ECC additionally affirmed the proposition of the Ministry of Water and Power with respect to the supplemental understanding for activities in the private area under the China-Pakistan Economic Corridor (CPEC) system assention. Under the course of action, a spinning account (equivalent to 22% of month to month invoicing) might be opened and kept up by the force buyer for which the Ministry of Finance will give the assurance to store such rotating account in the event that the force buyer neglects to put or keep up the required asset in the record.
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