The Economic Coordination Committee (ECC) of the Cabinet on Monday canceled the 8th international tender for the import of Wheat on the basis of higher prices.
The meeting of ECC was held under the chair of Federal Minister for Economic Affairs Omar Ayub Khan.
According to the details, the Ministry of National Food Security & Research presented two summaries related to the Award of Seventh International Wheat Tender 2021-22 opened on 25th October 2021 and the Award of Eight International Wheat Tender 2021-22 opened on 4th November 2021.
The ECC after due deliberation recommended the proposal regarding scrapping of the 7th tender offered by the TCP and floating of fresh tender.
The Committee also recommended the proposal for cancellation of the 8th international tender for import of Wheat on the basis of higher prices.
It further directed the Ministry of National Food Security & Research to re-assess the need and requirements of neighboring country Afghanistan for Wheat.
The committee also approved a summary, presented by the Ministry of Commerce, recommending the elimination of the tariffs charged on imports from Afghanistan as a goodwill gesture.
The Ministry of Energy presented a summary for revision of margins of oil marketing companies (OMCs) and dealers on petroleum products, viz. Motor Spirit (MS) and High-Speed Diesel (HSD), with effect from the forthcoming revision in oil prices. A sub-committee recommended that the summary should be tabled in the next meeting after soliciting comments and views from all the members of the committee.
The committee also recommended, after detailed deliberation, the summary presented by the Ministry of National Health Services, Regulation & Coordination for grant of exemption of Customs duty and taxes on the donations of Personal and Protective Equipment (PPE) under the USAID-funded program titled, ‘Promoting Quality of Medicine Plus (PQM+)’.
The ECC recommended the summary tabled by the Ministry of Communication for a special allocation of funds of Rs. 6,000 million to initiate the process of improving and rehabilitating the program of Balkassar-Mianwali (N-130) and Mianwali-Muzaffargarh (N-135) roads. After due deliberation, the committee recommended funds for payment of salaries to the employees of Heavy Electrical Complex and mark-up to the Bank of Khyber with directions to finalize the privatization of the Complex by mid-January 2022.
Advisor to the Prime Minister on Finance & Revenue Shaukat Tarin, Federal Minister for National Food Security & Research Syed Fakhar Imam, Federal Minister for Industries & Production Makhdum Khusro Bakhtyar, Federal Minister for Energy Hammad Azhar, Federal Minister for Privatization Muhammad Mian Soomro, relevant Federal Secretaries, and other senior officers attended the ECC meeting.