ECC Approves Import of 580,000 Tonnes of Wheat on G2G Basis

The Economic Coordination Committee (ECC) of the cabinet on Monday approved the import of 580,000 tonnes of wheat on a government-to-government (G2G) basis.

The Ministry of National Food Security and Research submitted a summary on the Award of 7th International Wheat Tender 2022 opened on 30th November 2022. Keeping in view the results of the 7th International tender and G2G offer, the ECC approved the lowest bid from M/s Cereal Crop Trading LLC at $372 per tonne for the supply of 130,000 tonnes of wheat at Karachi port for the shipment period from the 16th December 2022 to 8th February 2023

The committee also approved the offer of M/s Prodintorg, Russia on a G2G basis of $372 per tonne for the supply of 450,000 MT at Gwadar Port for the shipment period from 1st February 2023 to 31st March 2023. It was decided that any additional cost on inland transportation from Gwadar Port will be borne by Pakistan Agricultural Storage & Services Corporation (PASSCO) to be recovered from provinces at the time of the release of wheat stock.

The meeting, held under the chair of Finance Minister Ishaq Dar, also approved the proposal of the Finance Ministry to change the title of the revolving fund account for CPEC Independent Power Producers from “Pakistan Energy Revolving Fund” to “Pakistan Energy Revolving Account.”

Federal Minister for Power Khurram Dastgir, Federal Minister for Industries and Production Syed Murtaza Mahmud, former prime minister Shahid Khaqan Abbasi, Minister of State for Finance and Revenue Dr. Ayesha Ghous Pasha, SAPM’s Tariq Bajwa, Tariq Pasha, Dr. Muhammad Jehanzeb Khan, Federal Secretaries and other senior officers attended the meeting in person.

Commerce Minister Syed Naveed Qamar, Minister of State for Petroleum Musadik Masood Malik, Coordinator to PM on Commerce Rana Ihsan Afzal, Governor SBP, and MD PASSCO joined the meeting through Zoom.