ISLAMABAD: The meeting of Economic Coordination Council (ECC) Tuesday failed to review a proposal seeking revision of petroleum products’ prices on a monthly basis as it was done in the past since the summary in this regard could not be presented.
According to sources, the 
Ministry of Petroleum is in favor of weekly review of POL prices and a report in this regard has also been prepared which says the existing practice of week-on-week basis revision of prices better serves the people’s interest.
It is pertinent to note here that the National Assembly has already passed a resolution for monthly review of POL prices.
According to sources, the ECC has given a go ahead for a separate gas pipeline for fertilizer companies that will be built at a cost of 40 million dollars.
Incentives for import of the motor cycles were also approved during today’s meeting. As a result of this, a Japanese company will get a tax exemption on import of parts.
The ECC also okayed Rs6.1 billion bank guarantee for Pakistan International Airline
