The Economic Co-ordination Committee (ECC) of the Cabinet, which is scheduled to be held today (Friday), is likely to lift a Regulatory Duty (RD) on export of potato, it was leant. Sources told Business Recorder that a proposal to this effect has been on agenda of the ECC meeting to be chaired by Finance Minister Ishaq Dar.
A 25 percent regulatory duty was imposed on export of potato on May 5, 2014 on the recommendations of Ministry of National Food Security and Research when potato prices had soared to Rs 100 per kg. The measures were aimed at bringing the potato prices down at a rational level in the market. An official said the prices of potato in the local market have declined and National Assembly''s standing committee has asked Ministry of Food for the removal of a regulatory duty on its export.
Sources said the ECC would also be submitted for consideration and approval of an ex-post facto approval for a fresh fund injection into National Bank of Pakistan for the Bangladesh operation. An official said some proposals are expected to be tabled during the meeting for consideration and approval.
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