Islamabad: In a significant move to bolster economic stability and support, the Economic Coordination Committee (ECC), chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, has approved the continuation of the Prime Minister’s Relief Package for the fiscal year 2024-25 and recognized the Warehousing and Logistic Sector as an industry.
According to Press Information Department, the ECC meeting, which convened today at the Finance Division, saw contributions from key cabinet members including the Minister for Industries and Production Rana Tanveer Hussain, Minister for Commerce Mr. Jam Kamal Khan, and Minister for Privatization Mr. Abdul Aleem Khan. The decision to extend the Relief Package comes with adjustments to the pricing and subsidy structures, aiming to enhance its effectiveness through the Utility Stores Corporation.
Additionally, the ECC’s approval to classify the Warehousing and Logistic Sector as an industry follows a proposal from the Ministry of Industries and Production, marking a strategic shift to recognize and further develop this crucial sector’s role in the nation’s economy.