ECC to raise GST on sugar to 17%
ISLAMABAD: The Economic Coordination Committee (ECC) is likely to approve an increase in the GST on Sugar from 8 per cent to 17 per cent on Tuesday.
Federal finance minister Abdul Hafiz Sheikh will chair the ECC meeting which will deal with a nine points agenda.
The participants are also expected to end custom’s duty on the import of plants and machinery for grade cold rolled steel manufacturers.
The meeting will also deliberate on the oil pricing formula for petroleum products. If the oil pricing formula is approved the price of high speed diesel will fall by Rs2.5 per liter while petrol prices will be reduced by Rs1.5 to Rs4.5.
ECC to raise GST on sugar to 17%
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