The Economic Coordination Committee (ECC) on Tuesday approved amendments to Pakistan’s vehicle import procedures and revised margins for oil marketing companies (OMCs) and petroleum dealers, while taking up a series of measures related to energy, trade, and administrative reforms, the Finance Division said.
The meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, reviewed the Circular Debt Management Plan for FY26. The Committee directed the Power Division to prepare a medium-term roadmap to reduce fiscal support to the power sector gradually and to strengthen follow-up mechanisms with DISCOs for meeting performance targets.
On a summary moved by the Ministry of Commerce, the ECC approved changes to the vehicle import framework, retaining only the Transfer of Residence and Gift Schemes.
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Commercial-import safety and environmental standards will now apply to these schemes, the import eligibility period has been extended from two to three years, and imported vehicles will remain non-transferable for one year.
The Committee also cleared a proposal to adjust OMC and dealer margins on MS and HSD based on national CPI movements for FY24 and FY25. The increase, capped between 5% and 10%, will be released in two stages: half to be paid immediately and the remainder tied to digitization milestones to be reviewed by June 1, 2026.
To address public health risks, the ECC approved restricting chloroform imports to pharmaceutical companies only, and solely with a DRAP-issued NOC.
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It also rejected a request by Ghani Glass for concessionary gas/RLNG tariffs, noting that such subsidies were not allowed and broader export-support measures were underway.
The ECC approved a Technical Supplementary Grant of Rs1.28 billion for the Pakistan Digital Authority to support digital transformation across government entities. It also allowed the release of development funds for the Cabinet Division and allocated Rs5 billion to the Housing and Works Division.
In another decision, the Committee approved the creation of a special-purpose company to wind up PASSCO, settle its outstanding liabilities, and oversee its dissolution once the process is completed.
The ECC also granted in-principle approval for releasing budgetary allocations to PIA Holding Company Ltd. to meet pension and medical expenses of PIACL employees.
The meeting was attended by Petroleum Minister Ali Pervaiz Malik, Power Minister Sardar Awais Ahmad Khan Leghari, Investment Board Minister Qaiser Ahmed Sheikh, and senior officials from relevant divisions and regulatory bodies.
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