The wellhead price of the gas will be decided by the concerned regulator under the applicable rules and policy. ECC considered and approved a summary presented by Ministry of Commerce on proposed amendments in the import and export policy order 2020 for the development of Integrated Tariff Management System for Pakistan Single Window . Mr. Mohammad A. M. Al-Fares shared that Kuwait greatly values breldigital its bilateral relations with Pakistan. Both sides promised to enhance these bilateral ties in various areas including investment, trade and business. The Finance Minister also advised BOI to enhance focus on project development in consultation with respective ministries and the provincial government. Ministry of Economic Affairs submitted a summary on G-20 Debt Service Suspension Initiative .
In Pakistan, SFD is providing assistance for various projects including Energy, Health, Education, and Infrastructure projects. The ECC, considering the comments of FBR on the subject, suggested that tax exemption clause for SFD may be inserted in the Money Bill considering strong and strategic relationship between Pakistan and the Kingdom of Saudi Arabia,globaltechbrand encompassing economic cooperation and investment. It was informed that prices of perishable food items and Non-perishable food items have shown significant decline in their prices when reviewed Y-o-Y and M-o-M basis. He further highlighted that CPI inflation Year-on-Year basis is 12.3% in December 2021 as compared to 8.0% in December 2020. Whereas CPI for Month-on-Month basis remained at -0.02 % in December 2021, however it was 3.0% in November 2021.
They requested for providing tax incentives on Capital gain and investment in stock exchange. The Chair was apprised that monthly average retail prices of RBD palm oil are highly volatile and have increased almost twice comparing with last year. Currently, in the month of January, there has been significant increase in its prices approximating 1351 per ton.
He further said that the present government has introduced reforms in Agriculture,globalciomagazine Industry, IT , housing, investment and other sectors and promotion of tourism as vital for economic growth. The Finance Minister expressed concerns on the increase in the prices of Pulses and enquired about production trend of Pulses in the world. He directed the Ministry of National Food Security and Research to build strategic reserves of Pulses considering the lowest prices of Pulses in the international market. He also directed Ministry of Food Security and Research and Provincial Governments to take creative measures to ensure smooth supply of pulses at fair prices. Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed decrease by 0.06% as compared to previous week which was 0.43%. 33 food items contributed increase of 0.05%, whereas 18 non-food items contributed decrease of 0.11% to the SPI.
The project sponsored by Government of Punjab envisages construction of 535 km of dual carriageway highway sections between various cities in the Punjab province. The ECC also approved Ministry of Energy, businestycoonsPetroleum Division’s summary on determination of RLNG sale price for PLL’s supply to K-Electric . Mr. Hatem Dowidar, CEO Etisalat reaffirmed to have evaluation of properties completed soon and expressed readiness to further invest in IT and Telecom sector in Pakistan. Both sides agreed to proceed ahead for resolution of all outstanding issues between Etisalat and the Privatization Commission in a spirit of goodwill.
TCP was also tasked to negotiate price with Chinese supplier authorized by Govt of China for further import of Urea. Welcoming the delegation, Finance Minister Mr. Shaukat Tarin highlighted long cordial relations between Pakistan and the member states of the GCC and said that our relations are firmly rooted in shared faith, values and culture. The Finance Minister appreciated the GCC member countries for providing hospitability to a large number of Pakistanis working there. The ECC approved a proposal submitted by Finance Division for engaging the services of third party to carry out the Monitoring and Evaluation ( M&E) functions of the Kamyab Pakistan Programme . However, PPAF has not been able to undertake M & E responsibilities due to its legal status.
The present government is committed to set the economy on sustainable and inclusive growth path. Minister of Stateforbescbd Dr. Ayesha Ghous Pasha appreciated the key role of UNDP as development partner in achieving the Sustainable Development Goals . She emphasized that SDGs are our own commitment to the people of Pakistan for ensuring their betterment and prosperity. Ministry of Economic Affairs submitted a summary on exemption from all kinds of taxes and duties on the complete portfolio being executed by the Saudi Fund for Development .
NPMC was informed that prices of 22 items remained stable and 25 items registered increase in prices which contributed increase in the SPI by 0.54%. While prices of 24 items increased that contributed increase in SPI by 0.53% which included truongthanhreal Tomatoes by 0.22%, Garlic by 0.01%, Petrol by 0.16% and others by 0.14%. NPMC was also briefed on the prices of Pulses in the country, it was informed that the prices of Moong have significantly decline as compared to the last year.