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ECC approves tender for 100,000 tonnes sugar import
June 29, 2021
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Monday approved an international tender for import of 100,000 tons of sugar and extended subsidy on six essential items for 15 days.
The ECC took the decisions during a meeting presided over by Minister for Finance and Revenue Shaukat Tarin. The committee approved a summary by industries and production division for approval of tender opened on 25the June for import of 100,000 tons of sugar. The lowest offer of $526.8 per tonne cost and freight was submitted by Al Khaleej Sugar on bids invited by the Trading Corporation of Pakistan (TCP).
June 29, 2021
ISLAMABAD: Pakistan will get a funding of $4.5 billion from the International Islamic Trade Finance Corporation (ITFC) to finance imports of petroleum products in three years, the government said on Monday.
ITFC, an autonomous entity within the Islamic Development Bank Group, signed a 3-year framework agreement for a cumulative amount of $4.5 billion with the government of Pakistan to provide financing for the import of essential commodities such as crude oil, refined petroleum products, liquefied natural gas and urea.
Minister of Economic Affairs Omar Ayub witnessed the signing ceremony between ITFC CEO Hani Salem Sonbol and Ministry of Economic Affairs Secretary Noor Ahmed. The ceremony took place virtually.
ECC allows 100,000 tons of sugar to maintain strategic reserves tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
The new framework agreement will “provide financing for the import of essential commodities such as crude oil, refined petroleum products, LNG and urea”. Reuters/File
ISLAMABAD: Pakistan and the International Islamic Trade Finance Corporation (ITFC) a subsidiary of the Islamic Development Bank on Monday signed a $4.5 billion new framework agreement to finance oil, LNG and fertiliser imports over the next three years (2021-23).
The new framework agreement will “provide financing for the import of essential commodities such as crude oil, refined petroleum products, LNG and urea”, announced the Ministry of Economic Affairs (MEA) soon after the signing of the agreement.