ECC to approve army’s Covid-related expenses grant

Likely to restore 1.5% tax on dividends for IPP investors, shareholders

ISLAMABAD:

The Economic Coordination Committee (ECC) of the Cabinet is likely to approve a supplementary grant for Pakistan Army to cover its Covid-related expenses for the previous fiscal year in the meeting convened on Wednesday.

The meeting chaired by Finance Minister Shaukat Tarin will discuss an 11-point agenda.

It will consider approval for a technical supplementary grant of Rs8.19 billion under the Sustainable Development Goals programme.

Moreover, it is likely to approve the release of Rs555 million of the Public Procurement Regulatory Authority for the e-procurement project.

The ECC is also expected to restore a 1.5 per cent tax on dividends for IPP investors and shareholders. It is also likely to approve payments to government-owned power plants in accordance with the IPP standards.

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The meeting will also review gas prices from the Mazari gas field by PPL and GHPL, and is likely to approve the sale price of RLNG supplied to K-Electric.

The ECC is also expected to approve the extension of the lease of the Saindak copper and gold project between Saindak Material United and MCC China.

It is also expected to approve a sovereign guarantee of Rs944 million for the construction of the Sialkot (Sambrial) Kharian project.

The meeting will also review the implementation report on the Textile and Apparel Policy 2020-25.

It is also likely to approve a technical supplementary grant of Rs25 million for the Ministry of Human Rights for expenses of employees.