ECC Approves Rs. 7.5 Billion Ramadan Relief Package for BISP Beneficiaries

The Economic Coordination Committee (ECC) of the Cabinet Tuesday approved the proposed Ramadan Relief Package 2024, for the provision of subsidy to the targeted beneficiaries of Benazir Income Support Programme (BISP). The meeting chaired by Federal Minister for Finance Dr. Shamshad Akhtar approved the package with the net amount of Rs. 7,492.75 million, which is provided for in the budget for 2023-24, to provide relief to the general public during Ramazan. A summary of the Ministry of Commerce (Tariff Policy Wing), regarding “Individual Tariff Rationalization Proposals from Different Sectors for Review of Custom Duties” was discussed in the committee. The forum after deliberations approved the proposal and advised that tariff rationalization should be coordinated with the trade policy A proposal regarding “Permission to Import Wheat and Export of Wheat Flour under Export Facilitation Scheme 2021” was presented to the forum by the Ministry of Commerce. The ECC approved the proposal and directed the relevant Ministries to prepare comprehensive proposals for enhancing the opportunities for valued added exports. The committee also approved a summary of the Power Division regarding the “Commissioning of 1263 MW CCPP Punjab Thermal Power (Pvt) Limited, Jhang (PPTL)”. Another proposal of the Ministry of Commerce regarding “Sharing of Subsidy on Imported Urea at 50:50 Basis Technical Supplementary Grant for Ministry of Commerce” was considered by the Committee. ECC approved the proposed release of Rs. 6 billion to the Ministry of Commerce. The funds are meant for clearing the arrears of subsidy for the previous financial year. It was clarified that no subsidy on this account has been allowed by the government during the current year. The ECC also directed that the Provincial Governments be approached to clear their respective arrears of subsidy on urea. The Ministry of Planning briefed the ECC on the inflation situation in the country. The forum directed the Ministry of PD&SI to make sure that detailed analysis is carried out on the data collected by PBS, and the same is also presented to the Committee for taking appropriate measures in a timely manner. The meeting was attended by the Minister for Privatization Fawad Hasan Fawad, Minister for Interior Gohar Ejaz, Minister for Energy Mohammad Ali, Minister for Planning Sami Saeed, Minister of Maritime Affairs Shahid Ashraf Tarar, Deputy Chairman Planning Commission Dr. Muhammad Jehanzaeb Khan, Advisor to PM on Finance, Federal Secretaries, and other senior government officers of the relevant ministries.