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ECC

Pakistan considers overhaul of used vehicle import schemes

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Pakistan considers

ISLAMABAD: The federal government has begun reviewing major changes to the used car import policy, including a proposal to abolish the Personal Baggage Scheme and impose stricter conditions on the Gift Scheme and Transfer of Residence Scheme.

According to official sources, the Ministry of Commerce has prepared a summary and forwarded it to the Economic Coordination Committee (ECC), recommending the complete withdrawal of the Personal Baggage Scheme.

The summary also suggests tightening regulations for the other two schemes to prevent misuse.

Senior government officials confirmed on Monday that several proposals are being examined, particularly measures to strengthen oversight of the Gift and Transfer of Residence schemes, while the Personal Baggage Scheme is likely to be discontinued.

The ECC will make the final decision on the proposed policy changes.

PM approves changes in cabinet’s Economic Coordination Committee

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PM approves

ISLAMABAD: In a move to streamline economic decision-making, Prime Minister Shehbaz Sharif has restructured the Cabinet’s Economic Coordination Committee (ECC).

Following the Prime Minister’s approval, the Cabinet Division issued a notification regarding the ECC’s restructuring.

According to the notification, Federal Finance Minister Muhammad Aurangzeb will continue as the ECC Chairman, while Federal Minister for the Investment Board, Qaiser Ahmed Sheikh, has been appointed as an ECC member.

With the inclusion of the Federal Minister for the Investment Board, the total number of ECC members has now increased to eight.

Apart from this, Federal Minister for Economic Affairs Ahad Cheema, Minister for Power Division Owais Leghari, Minister for Petroleum Ali Pervez Malik, Minister for Commerce Jam Kamal Khan, Minister for National Food Security Rana Tanveer Hussain and Federal Minister for Planning Ahsan Iqbal are among the members of the ECC.

Earlier on May 22, ECC was constituted with 7 members.