The Economic Coordination Committee (ECC), led by Finance Minister Muhammad Aurangzeb, has approved several critical financial decisions, including tax exemptions for International Cricket Council (ICC) regarding the ICC Champions Trophy 2025.
One of the most important decisions made at the meeting was the approval of a tax exemption for ICC on its income related to the upcoming ICC Champions Trophy 2025.
This exception is in line with international practice to host global sporting events, and any tax or deduction will be imposed on ICC’s income, subsidiaries and affiliated devices under the agreement between ICC and Pakistan.
However, the ECC clarified that Pakistani citizens, including Pakistan Cricket Board (PCB), will be required to pay tax on income derived from the tournament. No exceptions will be awarded for VAT or federal excise duties.
In addition, the committee postponed a decision on the issue of lifting the ban on commercial exports of goats and sheep to Kuwait.
The ECC also approved a supplementary technical grant of RS6,859 billion for the Ministry of Energy to cover development costs.
In addition, the committee approved the extension of the LNG framework agreement between Pakistan LNG Limited and Sukar trade for a period of three years.
