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ECC revokes Neelum Jhelum surcharge of 10 paisa per unit

ECC revokes Neelum Jhelum surcharge of 10 paisa per unit
February 19, 2021

ISLAMABAD (92 News) – Federal Minister for Finance and Revenue Dr Abdul Hafeez Shaikh chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet on Friday.

The Ministry of Energy presented another summary about revocation of Neelum Jhelum (NJ) surcharge of Re 0.10 per unit. The ECC considered and approved the revocation of Neelum Jhelum surcharge (with immediate effect).

Moreover, the Ministry of Industries and Production presented a summary before the ECC regarding revision of subsidized prices of essential commodities by the Utility Stores Corporation of Pakistan, in accordance with the earlier directive of ECC dated January 28, 2021.

Secretary, M/o Industries and Production presented various proposals to rationalize prices of wheat flour, sugar and ghee in view of continuous fluctuations in international commodity prices. After detailed discussion, the ECC approved only partial rationalisation and directed to provide maximum relief to the consumers despite significant price differential between subsidized price offered by the USCs and the prevailing prices in the domestic markets. This is in compliance with the Prime Minister’s Relief Package-2020 to provide basic commodities at affordable rates through a network of Utility Stores across Pakistan.

Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Industries and Production Hammad Azhar, Adviser to the PM on Institutional Reforms and Austerity Dr Ishrat Hussain, SAPM on Revenue Dr Waqar Masood, SAPM on Power Tabish Gauhar, SAPM on Petroleum Nadeem Babar and Chairman Board of Investment (BOI) Atif Bokhari participated in the meeting.