ECC principally approves tax relief for telecom sector

ISLAMABAD, Oct 28 (APP):The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved in principle a proposal aimed at facilitating the telecom sector by waiving certain taxes.

“In order to facilitate the Telecom sector by the waiver of certain taxes, ECC decided that the proposal may be granted approval in principle,” said a press statement issued by the Finance Ministry.

The ECC meeting was chaired by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh while among others, it was attended by Minister for Railways, Special Assistant to Prime Minister on Petroleum, Adviser to PM on Commerce, Adviser to PM on Revenue and Adviser to PM on Institutional Reforms and Austerity.

ECC further directed that a subcommittee may be constituted, consisting of Adviser to the PM on Revenue, Adviser to PM on Institutional Reforms & Austerity, Minister for Industries & production and Adviser Commerce, to prepare a modified proposal in view of the Federal Board of Revenue’s (FBR) response for final approval. - APP