ECC approves further import of wheat, urea

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved further import of wheat to control prices and also allowed import of urea to meet the demand for the Rabi crop.

Federal Minister for Finance and Revenue Shaukat Tarin presided over the ECC meeting and approved the summary presented by the Ministry of National Food Security and Research, regarding award of the fifth international wheat tender to import 550,000 tonnes (after matching process) of wheat for FY 2021/22.

The committee also approved a summary moved by the Ministry of Industries and Production regarding a tender for import of 100,000 tonnes of urea for building strategic reserves during the Rabi season.

The ECC also gave go-ahead to the summary presented by the Ministry of Interior for Technical Supplementary Grant, amounting to Rs83.3 million for procuring services from the National Database Registration Authority (Nadra) regarding the project for the automation of the power of attorney for the overseas Pakistanis.

The committee accorded approval with the directive that the Ministry of Foreign Affairs and the Ministry of Interior may hold a joint consultative session to work out modalities, in this regard.

The Ministry of Industries and Production tabled a summary before the ECC regarding continuation of the prime minister’s relief package 2020 for the provision of five essential items on subsidised rates, which is scheduled to expire on September 30, 2021.

The committee granted extension for another month with the directive to present a detailed summary before the ECC, keeping in view, the international price hike in essential food commodities.

On a summary moved by the Power Division regarding the quarterly tariff adjustments of K-Electric, the ECC decided that the Power Division may approach Nepra to review its earlier decision on the issue and present an updated summary before the ECC for consideration.

The Power Division tabled another summary regarding the sales tax levy on subsidy granted by the federal government to the distribution companies. After seeking input from all the concerned, the ECC decided that the matter may be referred to the Law Division for seeking opinion and legal interpretation may be presented before the committee for further deliberations.

The ECC also considered and approved a summary, presented by the Ministry of Information Technology and Telecommunications, regarding the revised budget estimates for FY 2020/21 and FY 2021/22, respectively.

The ECC approved the summary by the Power Division regarding approval of payment mechanism for TNB Liberty Power Limited.

The ECC approved the proposal as part of the settlement with other relevant independent power producers.

The meeting was attended by Federal Minister for Planning Asad Umar, Federal Minister for Energy Hammad Azhar, Federal Minister for Railways Azam Khan Swati, Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Interior Sheikh Rashid Ahmad, Minister of State for Information Farrukh Habib, federal secretaries, Federal Board of Revenue chairman and other senior officials.