The Economic Coordination Committee (ECC), led by the Minister of Finance, Muhammad Aurangzeb, has approved several critical economic decisions, including tax exemptions for the International Cricket Council (ICC) concerning the Champions Trophy ICC 2025.
One of the main decisions made at the meeting was the approval of a tax exemption for the ICC on its income related to the next ICC 2025 champions trophy.
This exemption is in accordance with international practices to organize global sporting events, and no tax or deduction will be imposed on income, subsidiaries and affiliated entities of the ICC, in accordance with the agreement between the ICC and Pakistan.
However, the ECC said that Pakistani citizens, including Pakistan Cricket Board (PCB), will have to pay taxes on income from the tournament. No exemptions will be granted on the sales tax or federal excise duties.
In addition, the Committee has postponed a decision on the issue of lifting the ban on commercial export of goats and sheep to Kuwait.
The ECC has also approved an additional technical subsidy of 6.859 billion rupees for the Ministry of Energy covers development spending.
In addition, the committee approved the extension of the GNL framework agreement between Pakistan LNG Limited and the negotiation of Sukar for a period of three years.