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The government has approved the Ramadan relief package

Islamabad: The government has announced a Ramadan relief package worth 7 billion rupees.

On behalf of the government (Shahzad Pracha), the Economic Coordination Committee (ECC) of the Cabinet has approved the Ramadan Relief Package 2024, which is estimated to be worth Rs 7.4 billion.

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Federal Minister for Finance, Revenue and Economic Affairs Dr. Shamshad Akhtar chaired today’s ECC meeting of the Cabinet. Summary of Ramadan Relief Package 2024 was given by the Ministry of Industry and Production.

The ECC has approved the proposed Ramadan Relief Package 2024, under which BISP recipients will receive a net subsidy of Rs 7.4 billion to support the common people during Ramadan. This amount has been allocated in the budget for 2023-24.

A detailed discussion was also held by the ECC on individual tariff rationalization proposals for review of customs duty by various departments of the Ministry of Commerce.

After careful deliberation, the forum endorsed the proposal and recommended that trade policy and tariff rationality be harmonized.

The Ministry of Commerce submitted a proposal to the forum on permission for import of wheat and export of wheat flour under the Export Facilitation Scheme 2021. The ECC accepted the idea, directing the concerned ministries to draft detailed proposals aimed at improving the prospects of significant additional export revenue.

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The ECC also accepted the Power Division’s summary on commissioning of 1263 MW CCPP Punjab Thermal Power (Pvt.) Ltd., Jhang.

Consideration of the proposal

The Committee considered another proposal of the Ministry of Commerce titled “Technical Sub-Grant to the Ministry of Commerce on 50:50 Basis of Subsidy Sharing on Imported Urea”. Proposed Rupees The ECC approved the release of Rs.6 billion to the Ministry of Commerce. The purpose of this amount is to pay subsidy arrears from the previous financial year.

It was clarified that the government has not allowed any kind of subsidy on this account for the current financial year. The ECC further ordered that the provincial governments be contacted to recover the arrears of urea subsidy.

The Economic Commission was briefed on the country’s inflation situation by the Ministry of Planning, Development and Special Measures. The forum directed the ministry of PD&SI to ensure that the data collected by PBS is thoroughly analyzed and handed over to the committee for prompt, appropriate action.

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