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Customs duty on cotton yarn imports removed by ECC

NMPC takes notice of higher wheat flour prices in Sindh

ISLAMABAD: The government on Monday took notice of ‘significantly’ higher wheat flour prices in Sindh compared to other provinces, seeking measures to control prices of flour and sugar...

Power division asked for cost-effective solution to pensions

Business April 8, 2021 ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday directed the power division to deliberate further and present options for cost optimisation regarding pension liabilities of surplus employees of closed power plants. Power division presented a summary for a one-time grant to power generation companies for onward payment to distribution companies regarding the actuarial value of pension and pensionary benefits of surplus employees and also taking over the liability for payment of pension to existing pensioners of power plants which were decided to be closed immediately by the cabinet committee on energy. Minister for Finance, Revenue, Industries and Production Hammad Azhar presided over the ECC meeting.

ECC again refrains from approving payments to IPPs - Newspaper

The Economic Coordination Committee (ECC) of the cabinet on Wednesday put off a decision on payment of first installment out of Rs403 billion outstanding payments to independent power producers. — AFP/File ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday put off a decision on payment of first installment out of Rs403 billion outstanding payments to independent power producers (IPPs) but approved about Rs457bn restructuring plan for Pakistan International Airlines (PIA) along with retrenchment of its 25 per cent workforce (about 3,500 staff) at a cost of Rs13bn. A meeting of the ECC presided over by Minister for Finance, Revenue, Industries and Production Hammad Azhar also approved absorption of staff of power generation companies (Gencos) that became surplus after closure of over 1,900MW of power plants, but could not take a decision on their pension benefits.

Power division asked for cost-effective solution to pensions

Power division asked for cost-effective solution to pensions

Minister for rationalised pay, pension system

Minister for rationalised pay, pension system Hammad Azhar says it will help remove anomalies and ensure equity APP April 07, 2021 Action taken after court’s suspension of Iqbal Bablani’s pre-arrest bail. PHOTO: FILE Federal Minister for Finance, Revenue, Industries and Production Hammad Azhar has underlined the importance of introducing a rationalised pay and pension system to remove anomalies and ensure equity. The minister was talking to Pay and Pension Commission Chairperson Nargis Sethi, who called on him on Tuesday while the finance secretary also participated in the meeting. The minister said that the current model for disbursement of pay and pensions was not sustainable and there was a need to rationalise salaries, pensions, allowances, perks, etc by removing anomalies to ensure equity.

NPMC asks provinces to ensure steady sugar prices

NPMC asks provinces to ensure steady sugar prices Business April 6, 2021 ISLAMABAD: The National Price Monitoring Committee (NPMC) on Monday asked provincial governments to ensure steady prices of sugar in the market and timely completion of wheat procurement. The NPMC meeting was briefed about the sufficient stock of wheat across the country. The overall release position by the respective provinces was also reviewed during the meeting. Minister for Finance, Revenue, Industries and Production Hammad Azhar chaired the NPMC meeting. Taking stock of the situation, the finance minister directed the representatives of the provincial government to take appropriate measures for keeping prices of the wheat flour bags in check. The NPMC urged the provinces to take all possible measures to ensure smooth supply of wheat at fair prices across the board. “Controlling inflation is the top most priority of the government,” Azhar said. He emphasised the need for coordinated and consolidated efforts by all concerned to provide essential items to the general public at fair prices. The committee asked the provincial governments to ensure timely completion of wheat procurement and supply of basic commodities at discounted prices through Ramazan sahulat bazaars to provide maximum relief to the consumers.

NPMC asks provinces to ensure steady sugar prices

NPMC asks provinces to ensure steady sugar prices