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ECC approves 3mln tonnes wheat import for strategic reserves

ECC approves 3mln tonnes wheat import for strategic reserves

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved 3 million tons of wheat import for building up its strategic reverses in the country.

The decision was taken during a meeting presided over by Finance Minister Shaukat Tarin, on a request of food ministry and subject to approval by Public Procurement Regulatory Authority Board.

The government estimated wheat production at 26.04 million tons, up 1.7 percent over the last year.

ECC approved the provision of 500,000 tons of wheat to the government of Khyber Pakhtunkhwa out of Pakistan Agricultural Storage and Services Corporation stock during the crop year 2021/22 on the usual terms and conditions.

All charges, including incidental charges will be borne by the provincial food department. Similarly, 500,000 tons imported wheat has also been allocated to meet the provincial requirement.

ECC further approved $17.3m for Pakistan International Airlines for payment of recurring and one-off liabilities for Roosevelt Hotel New York, as verified by the auditor and recommended by the airline’s board.

Finance and aviation divisions and Privatization Commission were asked to consult with each other and propose a strategy in a month’s time for deciding the future of the asset.

The meeting allowed operational losses up to a maximum of 0.5 percent for gasoline transportation through inland freight equalization margin. The same will be adjusted against actual based on physical inventory of pipelines to be undertaken periodically. Oil and Gas Regulatory Authority will determine the actual rate based on actual losses and excess margin would be brought before ECC.

ECC approved the “Policy for Regulation of NGOs/NPOs receiving Foreign Contributions-2021”. The NGO Policy 2021 has been designed with the aim to fostering a sense of partnership between government and non-government sectors. Furthermore, under the new policy approval process (for registration) will be completed within 60 days, maximum, through online submission of application and consultation, doing away with manual processing and eliminating long delays.

The new policy seeks to expand space for credible organizations for a playing an effective role in socio-economic development while deterring with dubious credentials.

ECC directed officials to include any further suggestions/positive feedbacks from all the relevant stakeholders and presented the proposal before the forum in 4-8 weeks.

The ECC further approved technical supplementary grants of Rs1.3 billion for the finance division to provide wheat subsidy to the government of Gilgit Baltistan, Rs32 million and Rs1.6 billion for the ministry of industries and production to meet the expenditure of its various organisations and for clearing the bill of Sui Northern Gas Pipelines Limited for May, Rs274 million for the ministry of information and broadcasting to meet the shortage of budget of PTV, Rs570 million for the ministry of interior for security enhancement at Pakistan-Afghanistan border, Rs56 million for the ministry of maritime affairs for its various miscellaneous expenditure, Rs145 million for Pakistan Nuclear Regulatory Authority to meet its various employee related expenses, Rs2.4 billion for revenue division for meeting the requirements of Pakistan Raises Revenue Program, Rs834 million for Pakistan Atomic Energy Commission to meet its employee related expenditure and Rs49 billion for Karachi Coastal Power Project Unit 1 and 2 as requested by Pakistan Atomic Energy Commission.