Tag: ECC
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Shaandar renovation? Government approves more than Rs16 crore for renovating Shehbaz’s office
The government on May 7 approved a supplementary budget worth Rs147 billion for various expenses including more than Rs36 crore for renovating the Prime Minister Office and expenses for the employees of the Karachi Shipyard and Engineering Corporation. The Economic Coordination Committee (ECC) approved a budget of Rs162.5 million for renovating the PM’s Office, the…
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Bajwa, Faiz Hameed didn’t violate constitution, says Khaqan Abbasi
Former prime minister of Pakistan Shahid Khaqan Abbasi has said on Sunday that he didn’t ever seen former Army Chief General (R) Qamar Javed Bajwa and former Director General (DG) Inter-Services Intelligence (ISI) Lt. General (R) Faiz Hameed breach the constitution. Any wrongdoing should be addressed in a proper way, the former Prime Minister said…
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PM Shehbaz transfers ECC chairmanship to Finance Minister Aurangzeb
Prime Minister (PM) Shehbaz Sharif, in a reversal of his earlier decision, has transferred the chairmanship of the Economic Coordination Committee (ECC) to Finance Minister Muhammad Aurangzeb.
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Is Aurangzeb being pushed in background to give Dar more control?
In a surprising move, the Finance Minister of Pakistan finds himself cut from two major financial decision-making committees, while paving the way for a much bigger role in financial matters for Ishaq Dar, Express Tribune has reported. Prime Minister Shehbaz Sharif has reshuffled four cabinet committees. As a result, Finance Minister Aurangzeb now heads only…
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ECC greenlights 25% sales tax increase on domestic cars
In a significant development, the Economic Coordination Committee (ECC) of the Cabinet has given its nod to a proposal for increasing the sales tax on vehicles manufactured and assembled within the borders of Pakistan.
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Tariff hike of Rs1.72 per unit approved for K-Electric consumers
The Economic Coordination Committee (ECC) has granted approval for quarterly tariff adjustments of Rs1.72 per unit for K-Electric, alongside government guarantees of Rs100 billion for Pakistan State Oil (PSO) and a Rs20 billion credit facility for Punjab’s Green Cooperative Initiative.
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IMF-backed gas price hike in Pakistan aims to tackle rising circular debt
The Economic Coordination Committee (ECC) recently made a decision to raise gas prices, a move that financial experts at Topline Securities, a brokerage firm, believe is a crucial step in Pakistan’s efforts to reach an agreement with the International Monetary Fund (IMF). This agreement is set for review in November.
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ECC approves margin hike for petroleum dealers and OMCs starting September 15
The Economic Coordination Committee (ECC) of the Cabinet, in a significant move, has given its nod to incrementally raise the margins of petroleum dealers and oil marketing companies (OMCs) starting from September 15. This decision followed a detailed review of a proposal submitted by the Ministry of Energy (Petroleum Division). The ECC’s decision entails an…
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ECC approves interest-free loan scheme for electric bikes and rickshaws to empower youth
On Thursday, the Economic Coordination Committee (ECC) of the cabinet approved a loan scheme with 0 per cent markup for environment-friendly electric bikes (e-bikes) and electric rickshaws (e-rikshaws) in a bid to facilitate youth and promote self-sufficiency. The approval was given during a meeting chaired by Finance Minister Senator Ishaq Dar, where various financial proposals…
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Govt slashes petrol price by Rs3.05, raises diesel by Rs8.95 per litre
Due to changes in oil prices on the global market, the government announced a revision in petroleum prices on Sunday. According to a statement released by the Finance Division, the cost of petrol has been reduced by Rs3.05 a litre for the first half of August 2022. Petrol will now be sold for Rs227.19 per…