ISLAMABAD: The Economic Co-ordination Committee (ECC) of the Cabinet, under the chair of Finance Minister Ishaq Dar, has okayed Rs3,000 support price of cotton seed for 2014-15 and decided to buy more than one million cotton bales through Trading Corporation of Pakistan (TCP).
Sources said that procurement of cotton bales through TCP would bring constancy in cotton prices in the country and would benefit the farming community.
The top economic decisions making body of the country also gave nod to the $3 billon ‘Gawadar-Nawabshah LNG Terminal and Pipeline Project’. As per project summary, a 711-km gas pipeline will be constructed from district Nawabshah to Gwadar to connect the proposed Liquefied Natural Gas (LNG) terminal with 42-inch diameter pipeline.
The Committee has also decided to help local manufacturers and provide them a level-playing field and constituted a body headed by Federal Board of Revenue (FBR) with representation from Ministry of Industries/National Tariff Commission, Engineering Development Board (EDB), Board of Investment (BOI) and local manufacturers of energy equipment to review the ways of giving incentives to the industrialists and to address their problems, which would not only relief, but also help increase volume of export.
