The Economic Coordination Committee (ECC) of the cabinet has directed the Trading Corporation of Pakistan (TCP) to arrange the import of the remaining quantity of 0.80 million metric tonnes (MMT) wheat through open tendering or through G2G arrangement, before harvesting of the new crop.
Federal Minister for Finance and Revenue Ishaq Dar presided over the meeting of the ECC of cabinet on Friday.
The Ministry of National Food Security & Research tabled a summary regarding permission for the import of 0.80 MMT of wheat through TCP.
It was submitted that ECC on 09-05-2022 allowed TCP to import 3 MMT of wheat and directed it to devise import modalities. Modalities were devised and TCP was allowed to import 1.00 MMT of specified milling wheat through an international tendering process.
Later, public wheat stocks were re-verified by the committee and reported that the actual shortfall would be 2.60 MMT, instead of 3 MMT. Therefore, TCP was allowed to import only 0.80 MMT through open tendering as well as through G2G basis out of the remaining 1.60 MMT on 06-09-2022.
The ECC approved the proposal and allowed TCP to arrange the import of the remaining quantity of 0.80 MMT through open tendering or through G2G arrangement, before harvesting of the new crop. The committee directed the concerned Ministry to frame and submit a logistic plan within 15 days.
The Ministry of Commerce presented a summary on the suspension of import conditions contained in Import Policy 2022 with regard to the import of Timber/Wood.
It was informed that all Pakistan Timber Traders Association (APTTA) requested for an extension in the date of implementation of conditions of the import permit.
The federal government subsequently suspended the operation of Import Policy provisions till 31st August 2022. APTTA has again approached with the same request to support the wood business sector.
In order to facilitate the import of wood/timber, the ECC directed the Department of Plant Protection (DPP) of the Ministry of National Food Security to review the conditions for the import of wood and timber and to bring them in conformity with the international best practices so that the import of wood and timber will not be subjected to unnecessary and cumbersome procedures. To address the immediate concerns of the wood/timber industry, the ECC approved the proposal to suspend the date of implementation of IPO 2022 regarding the import of timber and wood till 31st March 2023.
The ECC approved the summary presented by the Ministry of Industries and Production and allowed TCP to proceed ahead with the lowest subject offer received @ US$ 520/MT for the import of 300,000 MT of Urea Fertilizer. TCP floated an international tender in this regard on Oct 19, 2022, and the same was opened on Oct 26, 2022. Three bidders offered rates. The lowest responsive bid was @ US$ 520 PMT for 300,000 MT.
The Ministry of National Food Security submitted another summary regarding the request of the Food Departments of Punjab, Sindh, Khyber Pakhtunkhwa (KP), and Balochistan for an additional supply of imported Wheat from PASSCO’s stock. It was informed that the ministry prepares a list of allocations of the recipient agencies at the start of each food year and simultaneously local and imported wheat is supplied. However, provinces have demanded an additional supply of imported wheat from PASSCO’s stock.
Considering the urgent demand of provincial food departments and subject to the approval of respective provincial cabinets, the ECC granted permission to provide imported wheat from PASSCO’s stock to Punjab (0.50 MMT), Sindh (0.30 MMT) and KPK( 0.20MMT) with full cost and incidentals of PASSCO. Further, 0.04 MMT of local and imported wheat @ 50:50 ratio with full cost and incidentals of PASSCO may be provided to Balochistan.
The ECC also discussed in detail another summary of the Ministry of National Food Security regarding urgent advice related to the award of the 6th International Wheat Tender-2022 opened on 26th October 2022 for 500,000 MT. Keeping in view of the results of the 6th International Tender, the ECC approved the lowest bid offered @ US$ 373.00/MT for 380,000 MT on CFR bulk at Karachi.
The ECC also approved a technical Supplementary grant of Rs. 333.915 million in the current financial year in favor of the Interior Ministry enabling Frontier Constabulary to establish an anti-riot unit of 2000 personnel.
Federal Ministers Naveed Qamar, Khurram Dastgir, Makhdoom Syed Murtaza Mehmood, Minister of State for Petroleum Musadik Malik, SAPM on Finance Tariq Bajwa, federal secretaries and senior officers attended the meeting.
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