ISLAMABAD: The Economic Committee of the Cabinet (ECC) approved major changes to Pakistan’s vehicle import procedures on Tuesday. Ministry of Commerce recommended major changes in the cars import regime. The revised rules retain only the Transfer of Residence and Gift Schemes. The ECC endorsed extending the import interval from two to three years. It said commercial-import safety and environmental standards will now apply to these schemes. It also ruled that imported vehicles will remain non-transferable for one year.
The Economic Coordination Committee met under the finance minister to review the Circular Debt Management Plan. The Power Division presented the plan for ensuring efficiency and financial sustainability in the power sector. The ECC directed the division to craft a medium-term strategy for reducing fiscal support. The ECC also asked the division to monitor DISCO performance through a follow-up mechanism.
ECC revises fuel margins and sets conditions
The ECC approved revised margins for OMCs and petroleum dealers on MS and HSD. The margins will adjust in line with national inflation for two fiscal years. The ECC capped increases between five and ten percent. It said half of the increase will be paid immediately. It added that the remaining half will depend on digitization progress. The Petroleum Division will report by June 2026.
Committee decides on chloroform import limits
The ECC approved restrictions on chloroform imports due to its toxic nature. It ruled that pharmaceutical firms may import chloroform only with a DRAP-issued NOC.
ECC rejects concessionary tariff request
The ECC found a concessionary tariff request by Ghani Glass untenable. It said general export-support measures already remain underway.
ECC approves grants and structural reforms
The ECC approved a technical supplementary grant of PKR 1.28 billion for the Pakistan Digital Authority. It also approved development funds for the Cabinet Division and allocated Rs5 billion to the Housing and Works Division. It approved creating a special-purpose company to wind up PASSCO. It granted in-principle approval for budgetary support to PIAHCL for pension and medical costs.
