The Economic Coordination Committee of the Cabinet has approved import of up-to five-year old tractors under the Kissan package to reduce cost of tractors.

The ECC, which met in Islamabad on Tuesday with Finance Minister Ishaq Dar in the chair, allowed depreciation in value at two percent per month up to maximum of 60 percent in view of duty reduction for import of second hand tractors.

The ECC also approved grants of over 1.2 billion rupees for various ministries, including 300 million rupees for Peshawar Electric Supply Company, 12.462 million rupees in favour of Ministry of Housing and Works for the urgent repair and maintenance expenditures and one billion rupees for the project “Rehabilitation and Construction of Roads in SITE Industrial Estate Karachi.

Source: Radio Pakistan