Financial Updates

The blog "FINANCIAL UPDATES" consists on exclusive economic and commerce news about across the world particularly Pakistan economy

Thursday, December 15, 2011

Pak bans of POL export to Afghanistan, CARs


Ishfaq A Mughal
The Economic Coordination Committee (ECC) of the Cabinet banned of POL exports to Afghanistan and import of CNG cylinder.

The ECC met under the Chairmanship of Federal Minister for Finance and Economic Affairs, Dr. Abdul Hafeez Shaikh on Thursday in Islamabad.

The ECC also approved the summary “Energy Efficiency Audit of Fertilizer Plants” and “ban of POL product export to Afghanistan and Central Asian Republic, proposed by Ministry of Petroleum and Natural Resources. The ECC was informed that the actual conditions is quite different as this import is being practiced only on papers and all these POL products are being sold here in Pakistan after going through the export process.

The ECC approved the ban on import of CNG cylinder and conversion kits in the wake of current gas shortage in the country. The installation of new CNG kits in vehicles will also be banned. The existing stock and its owners shall be allowed to use their kits and cylinders, and no new license shall be issued in this regard, the ECC decided. In the same way, CNG fitted public transport vehicles buses and vans are exempted from this moratorium.

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