The meeting of the ECC presided over by Finance Minister Dr Abdul Hafeez Shaikh also cleared about Rs2.7 billion worth of supplementary grants. Reuters/File
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved additional import of more than 250,000 tonnes of wheat for buffer stock ahead of the fresh crop produce in April and allowed removal of duty on 152 tariff lines.
The meeting of the ECC presided over by Finance Minister Dr Abdul Hafeez Shaikh also cleared about Rs2.7 billion worth of supplementary grants.
On a summary regarding provision of additional quantities of wheat to Khyber Pakhtunkhwa, Azad Jammu and Kashmir and Utility Stores Corporation (USC), the additional secretary of the Ministry of National Food Security and Research gave a detailed presentation about the availability of wheat stocks across the country and sought permission for additional imports.
The government has decided to pay Rs135 billion out of Rs450bn circular debt and settle the remaining amount by the end of the current calendar year. File photo
ISLAMABAD: In the wake of the first meeting with a delegation of the IPPs to discuss payment of circular debt and implementation of memorandums of understanding (MoUs) signed with the power producers, the government has decided to pay Rs135 billion out of Rs450bn circular debt and settle the remaining amount by the end of the current calendar year.
Sources in the finance ministry said that a delegation of Independent Power Producers’ (IPP) managements held a meeting with Finance Minister Dr Abdul Hafeez Shaikh a day earlier to discuss the repayment plan for overdue circular debt receivables under the recently signed MoUs.
There is no point in developing a competitive energy market if the accounts of poorly managed and efficient Discos are to be integrated to ensure a uniform tariff. File photo
The Economic Coordination Committee (ECC) of the cabinet decided in a recent meeting to begin the process for the rationalisation of subsidies a long-time demand of global lending agencies led by the International Monetary Fund (IMF).
The decision was based on a presentation made by Dr Waqar Masood Khan, who headed a Subsidy Cell in the Ministry of Finance before being elevated as special assistant to the prime minister on revenue. Dr Khan is reported to have estimated that the action plan proposed for the first phase of subsidy rationalisation plan covering energy, national food security and national savings could provide a benefit of Rs488 billion per annum.
Hafeez Shaikh directs to take all possible measures to bring down prices of essential items
Published On 28 December,2020 08:22 pm
He directed the provincial govts to keep close watch on the prices of wheat to avoid hoarding
ISLAMABAD (Dunya News) – Finance Minister Dr Abdul Hafeez Sheikh has directed to take all possible measures to bring down prices of essential items, including eggs, wheat flour and tomatoes.
He was Chairing meeting of the National Price Monitoring Committee in Islamabad on Monday.
The finance minister directed the provincial governments to keep close watch on the prices of wheat to avoid hoarding, black marketing and smuggling to ensure uninterrupted supply of wheat at affordable prices.