Cabinet eases rules for wheat import
Exempts import of 3m tons from purview of PPRA rules in larger national interest
During the July-May period of the just ended fiscal year, Pakistan imported 3.6m metric tons of wheat, costing the cash-starved country $983m, according to PBS. PHOTO: REUTERS
ISLAMABAD:
The federal cabinet has approved to exempt import of three million metric tons wheat that is worth around $725 million at current prices from the purview of the Public Procurement Regulatory Authority (PPRA) rules “in the larger national interest”.
The cabinet gave the approval through circulation of the summary instead of bringing it up as a regular agenda item for a decision. The cabinet had given the exemption on recommendation of the PPRA Board that is headed by Finance Secretary Yousaf Khan.
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).
Minister for Finance & Revenue Shaukat Tarin chaired the meeting of the Economic Coordination Committee. Photo courtesy Ministry of Finance Twitter
ISLAMABAD: Amid conflicting views of the proponents of rural agriculturists and urban industrialists, the Economic Coordination Committee (ECC) of the cabinet pended a decision on intervention price for Cotton 2021-22 Crop for at least a fortnight when the sowing would be completely over.
A meeting of the ECC presided over by Minister for Finance & Revenue Shaukat Tarin also approved 11 supplementary grants worth Rs20 billion a day ahead of budget approval and extended subsidy on five major kitchen items through the Utility Stores Corporation for 15 days instead of until Dec 31 demanded by the ministry of industries.
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.
Over the last few years 50-60pc of ginning units have closed down as cotton production declined. Reuters/File
ISLAMABAD: The government has called a meeting of the Economic Coordination Committee (ECC) on Monday (today) to consider allowing an intervention price of about Rs5,000 per 40kg for cotton, which has arguably been necessitated by a sharp decline in production, besides clearing a dozen supplementary grants so close to the passage of federal budget by parliament.
To be presided over by Finance Minister Shaukat Tarin, the ECC meeting is expected to approve a notification about minimum indicative prices of tobacco and revision of cess rates on the commodity for the year 2021-22.