ECC Approves 25% Sales Tax Increase on Local Vehicles in Effort to Boost Revenue

• The Economic Coordination Committee (ECC) approves a 25% sales tax rate on locally assembled vehicles.
• The ECC directs the Ministry of Industries to stabilize urea prices and instructs the Competition Commission of Pakistan (CCP) to investigate the recent increase in urea prices.
• The committee discusses the Petroleum Division’s summary on natural gas sale pricing and recommends uniform gas prices for fertilizer plants.
• The ECC approves a Share Subscription Agreement (SSA) between NCGCL, Karandaz, and the Government of Pakistan.
• Amendments in import and export policies are endorsed by the ECC, and a committee is formed to formulate detailed proposals for an export-oriented policy reform.
• The Intelligence Bureau requests additional funds for operations against terrorists and anti-state elements.
• The ECC approves a technical supplementary grant for provision of rupee cover for remaining funds obtained from the World Bank.
• Several key figures, including ministers and federal secretaries, attend the ECC meeting.

Source: pkrevenue.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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