ISLAMABAD: The Economic Coordination Committee of the cabinet has decreased Ramazan package from Rs 3 billion to Rs1.75 billion in the federal budget.
The meeting of the ECC, presided over by Finance Minister Ishaq Dar, approved Rs1.75 billion for providing relief to consumers in the holy month.
The package will cover 22 essential items available at the Utility Stores Corporation outlets. The meeting was informed that the USC was already providing concession on different items since April 27 which would continue in Ramazan.
The relief on different items would range from Rs4 to Rs50. The USC will provide 5-10 per cent discount on more than 1,000 items through arrangements with vendors or reducing its own profit. The ECC also approved grant of tax exemption under the Gwadar Port Concession Agreement for Operation and Development of Gwadar Port.
The tax holiday shall be provided to the businesses to be established in the free zone for a period of 23 years. The meeting okayed allocation of 60MMCFD (million cubic feet per day) of additional gas available from Habib Rahi Limestone Reservoir of Mari Gas to Thermal Power Station Guddu, commonly known as Genco-II.
