The Economic Coordination Committee approved the temporary import of used vehicles and auto parts for repair, refurbishment and re-export under a pilot project, the Finance Division said Monday.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired the ECC meeting at the Finance Division, according to an official statement.
The ECC approved amendments to the Import-Cum-Export Scheme under the Import Policy Order 2022 and the Export Facilitation Scheme 2021.
The committee directed officials to review the pilot project after one year. The ECC also approved amendments to the Import Policy Order 2022 to ban imports of goods produced through forced labour.
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The Commerce Division proposed the forced-labour import restriction in line with Pakistan’s commitments under International Labour Organisation conventions.
The committee also discussed Rs. 5.985 billion for PIA Holding Company Limited to settle liabilities of Pakistan International Airlines Corporation Limited.
The ECC approved funding for medical and pension reimbursements and salary disbursements linked to the PIA liabilities.
The committee directed officials to take up payment to National Insurance Company Limited with the relevant revenue authority for adjustment, in line with auditors’ recommendations.
The ECC also reviewed inflation trends and said essential commodity prices showed signs of stabilisation after federal, provincial and district-level monitoring efforts.
