June 17, 2003	Tuesday	Rabi-us-Sani 16, 1424

ISLAMABAD, June 16: The Economic Coordination Committee (ECC) of the cabinet decided on Monday to decrease minimum gas charges for the commercial consumers from 300 cubic meters per month to 140 cubic meters to reduce average monthly bill from around Rs1,922 to Rs1,000.

An official announcement said this facility would directly benefit commercial consumers like tea stalls, milk shops, barber shops and tandoors.

The ECC, presided over by Finance Minister Shaukat Aziz, also decided that Oil and Gas Regulatory Authority (OGRA) should work out a detailed mechanism to bring cost of gas purchase at same level by SSGCL and SNGPL to maintain consumers uniform gas price all over the country.

The ECC put off till next meeting a summary on export of 300,000 tons of sugar due to shortage of time as the finance minister had to host a dinner for the visiting Turkish business delegation.

The meeting was informed that production of current wheat crop was estimated to be in the vicinity of 19.2 million tons. It decided to encourage import substitution through increased production of local oil seeds to benefit growers, local cooking oil industries and cattle farming industry.

In this connection, it approved recommendations of Minfal to withdraw its last year decision on winding up Pakistan Oilseed Board and instead make it an effective body responsible for promotion and production of local oil seeds.

The finance minister told the meeting that an anomaly committee has been constituted, which was led by secretary, Finance with headquarters at CBR to resolve budget related tax and trade anomalies. Secretaries of Industries, Commerce, chairman, CBR, a representative of FPCCI would be members of the committee.

The ECC also took serious view of under-invoicing. It decided that the cases of under-invoicing whenever and wherever occur must be brought to the immediate notice of Chief Custom Tariff, CBR for immediate action.

The committee directed the chairman, CBR, to take immediate action on such complaints to protect the local industry against under-invoicing and dumping.

The meeting congratulated the commerce ministry on achieving export of over $10 billion. Commerce Minister Humayun Akhtar told the ECC that by close of current financial year the exports were expected to be in the vicinity of $11 billion. He stated that a new trade policy was being drafted.

To encourage increased production of fertilizer, the ECC approved proposal of the ministry of Industries for increasing natural gas allocation from 23 mmcfd to 28.5 mmcfd to Pak- American Fertiliser Limited. ECC approved signing of Pipeline Project Implementation Agreement with Asia Petroleum Limited. The ECC also noted that the prices of essential items more or less remained stable, ample stocks of sugar, oil, cement, wheat and fertilizers were available in the country and inflation was low.