Summary The meeting decided to impose 25 percent regulatory duty on export of potato.
ISLAMABAD (Web Desk) - Economic Coordination Committee of the Cabinet (ECC) on Friday approved restructuring plan for the Pakistan Steel Mill amounting to over eighteen billion rupees.
Its meeting was held in Islamabad under chairmanship of Finance Minister Ishaq Dar.
The plan envisages achieving 77% capacity of the Mill till June next year.
The meeting decided to impose 25 percent regulatory duty on export of potato with effect from 5th of next month. It was also decided that there will be zero duty and levy on import of potato from 5th of next month till 31st of July this year.
The measure will help in bringing potato prices at rational level in the market before and during coming Ramadan.
The ECC decided, in principle, to allow Utility Stores Corporation to procure sugar directly from the domestic sugar mills without the involvement of the Trading Corporation of Pakistan. The Ministry of Finance will provide credit line support to the USC.
The TCP was directed to maintain their stocks upto 50,000 tons in future and to supply their over and above stocks to the corporation from the current inventory of around 200,000 tons.
