The Economic Coordination Committee (ECC), directed by the Minister of Finance, Muhammad Aurengzeb, has approved several critical economic decisions, including tax exemptions for the International Cricket Council (ICC) with respect to the ICC 2025 champion trophy.
One of the key decisions taken at the meeting was the approval of a tax exemption for the CPI on its income related to the next ICC Champions Trophy 2025.
This exemption is in line with international practices to organize global sporting events, and taxes or deductions to income, subsidiaries and affiliated entities of the CPI will not be imposed according to the agreement between ICC and Pakistan.
However, the ECC clarified that Pakistani citizens, including the Cricket Board of Pakistan (PCB), must pay taxes on income from the tournament. Exemptions on sales tax or federal special tax tasks will not be granted.
In addition, the committee postponed a decision on the issue of raising the prohibition of commercial export of goats and sheep to Kuwait.
The ECC also approved a complementary technical subsidy of RS6,859 billion for the Ministry of Energy to cover development expenses.
In addition, the Committee approved the extension of the GNL framework agreement between Pakistan Lng Limited and Sukar Trading for a period of three years.
