ISLAMABAD: The Economic Coordination Committee of the Cabinet on Monday scrapped two wheat import tenders due to higher prices and asked for a fresh tender.

Federal Minister for Economic Affairs Omar Ayub Khan presided over the ECC meeting.

On two summaries tabled by the Ministry of National Food Security and Research regarding award of seventh international wheat tender 2021/22, opened on October 25, 2021 and the award of eighth international wheat tender 2021/22, opened on November 4, 2021, the ECC after due deliberation recommended the proposal regarding scrapping of the seventh tender offered by the Trading Corporation of Pakistan (TCP) and floating of a fresh tender.

The committee also recommended the proposal for the cancellation of the eighth international tender for wheat import on the basis of higher prices.

It directed the Ministry of National Food Security and Research to reassess the need and requirement of neighbouring country Afghanistan for wheat.

The ECC also deliberated in detail and recommended the summary presented by the Ministry of National Health Services, Regulation and Coordination for grant of Customs duty and taxes exemption on the donations of Personal and Protective Equipment (PPE) testing laboratory equipment by USAID-funded programme, promoting quality of medicine plus (PQM+).

It recommended the summary tabled by the Ministry of Communication for special allocation of funds worth Rs6,000 million to initiate the process for improvement and rehabilitation programme of Balkassar-Mianwali (N-130) and Mianwali-Muzaffargarh (N-135) roads.

The committee also deliberated and recommended funds for the payment of salaries to the employees of Heavy Electrical Complex (HEC) and markup to the Bank of Khyber with the directives to finalise the privatisation of HEC by the middle of January 2022.

The summary presented by the Ministry of Commerce for elimination/reduction of tariffs on various items currently being imported from Afghanistan, as a goodwill gesture also came under discussion.

The committee also discussed the summary tabled by the Ministry of Energy for the revision of oil marketing companies (OMCs) and dealers’ margins on petroleum products, motor spirit (MS) and high-speed diesel (HSD) with effect from the forthcoming revision in oil prices.

The subcommittee desired that the summary may be tabled in the next meeting after soliciting comments and views from all the members of the committee.

Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin, Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Industries and Production Makhdoom Khusro Bakhtyar, Federal Minister for Energy Hammad Azhar, Federal Minister for Privatisation Muhammad Mian Soomro, relevant federal secretaries and other senior officers attended the meeting.