ECC Raises Import Duties, Approves SME Financing & Grants

The Economic Coordination Committee (ECC) has raised additional customs duty on radial tyres and motorcycle parts, increasing it from 4% to 11% and 11% to 31% respectively, to bolster local manufacturing. The committee also approved a financing framework by the SBP for first-loss coverage to SMEs and small farmers, aiming to broaden access to finance. Additionally, the ECC sanctioned Rs57.85 billion in supplementary grants for various divisions, including Rs10 billion for the Thar Coal Rail Connectivity Project. These measures reflect ongoing fiscal adjustments and support for domestic industries, which could offer minor, indirect support to the Pakistani Rupee by strengthening local production and economic stability.

بحوالہ / Source: www.dawn.com