Islamabad: The Joint Committee on Economic Cooperation Council (ECC) on Thursday approved a tariff barrier to lower oil prices at $ 6.5 per ounce for exports, and also mandated the proper definition of export sectors to avoid government spending.

The ECC Summit, chaired by the Prime Minister of Finance and Taxation, also proposed setting a price tag of Rs 3,600-4,000 for each cotton crop for 2019-20.

The meeting also noted that even in industries that do not export, any part of the natural gas is also happy with the natural resources that support exports, which increase exports. Last year, the government allocated 10 billion tracts of financial aid to financial businesses, over R 25 25 billion.

The ECC has directed the Ministry of Energy, Finance and Commerce and the Federal Tax Administration to conduct a meeting on the issue and to resolve problems related to the disclosure of export sectors. This clarification should ensure that the benefits of pricing are enjoyed by those who export outside the previously announced zero order. The specifications are intended to ensure that an exporter who was not an income tax broker needs to be certified under the FBR administration.

Subsidies mean that exporters are abused by other industries

According to the ECC ruling, on October 16, 2018, the ECC negotiated a natural gas / renewable gas (RLNG) deal with the company (including five zero rates), the ECC agreed on a March, April to June 2019 project (up from 100pc RLNG) was founded on the genuine promotion of Northern Sichuan Natural Gas Pipeline Co, Ltd. (SNGPL), used to release last year’s net income, amounted to $ 5,5174 million.

To extend the subsidy provision, the ECC also approved the request allowing SNGPL to guarantee payment amounts 8 days in advance each month, and the finance department will release the subsidy within seven days of receiving the fuel sector’s offer. Following receipt of the subsidy, SNGPL will issue a modified invoice to the consolidation department at the appropriate time of the lease, making any shortfall in the distribution of the next phase in the auction operation.

The ECC also approved that the overseas department send the tax and ECC-related tax credits of $ 6.50 per unit. The commission also deducted the previously funded LNGPL funding provided by SNGPL, which goes up to $ 6.5 per fund during the 18-18 years because the government has been slow to help. For FY2019-2020, LPS is only charged at an average return of $ 6.50 per mmBtu and does not apply to government subsidies to SNGPL.

The ECC, in response to a brief from the National Food Security and Research department (MNFSR) requesting less cotton prices to protect local farmers and promoting cotton cultivation in the country, decided to set up a tree inspection committee headed by a consultant to the committee. The Prime Minister of Business and Textile Abdul Razak Dawood has also reviewed prices for lumber and other measures taken to keep cotton prices stable.

The MNFSR also briefly described the ECC on wheat content. It said Passco and the province’s food department recorded 7.519 million tonnes of wheat on August 2, 2019, compared to 11.183 million tons in the same period last year.

Likewise, the Pakistan Bureau of Statistics also said on July 25, 2019 that the price of local wheat and wheat flour was 366.6 rupees and 422.2 rupees per 10 kg, and wheat prices dropped 0.03% and 0.69% of wheat flour , compared with the price of the second week of July. No.

The ECC has instructed the MNFSR to monitor regular wheat prices, quantities of local wheat, and to ensure that quality wheat is released into the commercial market and to monitor the rise in wheat prices, especially in winter.

In a further plea for the support of these people to destroy 5.3 million locusts to protect the locust, the ECC directed the Ministry of Finance to investigate the matter with the assistance of the MNFSR.

The ECC had briefly considered the scope of the Ministry of Energy for expanding the supply of natural gas and for restoring existing networks in the Khyber Pakhtunkhwa region for oil and gas production at a cost of Rs 9,039 million. According to reports, SNGPL will carry a net worth of Rs 4,668 crore, while the Khyber Pakhtunkhwa government will cost Rs 4.371 billion, including a loan amount of 69.5 million crore as a pre-tax loan to the government.

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