ECC in principle approves tax relief for telecom sector.

ISLAMABAD -- The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved in principle the proposal aimed at facilitating the telecom sector by the waiver of certain taxes.

'In order to facilitate the Telecom sector by the waiver of certain taxes, ECC decided that the proposal may be granted approval in Principle,' said a press statement issued by the Finance Ministry.

The ECC meeting was chaired by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh while among others, it was attended by Minister for Railways, Special Assistant to Prime Minister on Petroleum, Adviser to PM on Commerce, Adviser to PM on Revenue and Adviser to PM on Institutional Reforms and Austerity.

ECC further directed that a subcommittee may be constituted, consisting of Adviser to the PM on Revenue, Adviser to PM on Institutional Reforms and Austerity, Minister for Industries and production and Adviser Commerce, to prepare a modified proposal in view of the Federal Board of Revenue's (FBR) response for final approval.

The committee also approved Technical Supplementary Grant of Rs. 109.47 million to the Ministry of Defence for the survey of the coastal areas. The amount was surrendered by the Ministry of Maritime Affairs as the Pakistan Army has offered to assist in the survey.

The Ministry of Maritime Affairs also presented another summary for the waiver of demurrage charges on Afghan Transit Cargo/Afghan bound containers stranded at Karachi ports.

Earlier, the government had decided to ask the terminal operators to waive of 75% of the demurrage charges on Afghan Transit containers /cargo landing...