ECC calls for speedy wheat import for availability at affordable price

ECC calls for speedy wheat import for availability at affordable price throughout the year.  

The Economic Coordination Committee directed to accelerate efforts for wheat imports.

ECC calls for speedy wheat import

The ECC ensure availability of the commodity and wheat flour in the country throughout the year on affordable price.

Prime Minister’s Adviser on Finance Dr Abdul Hafeez Shaikh presided over the ECC meeting in Islamabad today (Wednesday).

The committee gave these directions to Ministry of National Food Security and Research.

Meanwhile, ECC also allowed Asian Development Bank to issue offshore Pakistan Rupee Linked Bonds for international investors subject to completion of all codal formalities.

According to the recommendation of State Bank of Pakistan, programme shall remain restricted to maximum of 200 million dollars.

The local currency proceeds of the Bonds shall be used for financing long term infrastructure and energy projects in Pakistan.

Meanwhile, the meeting allowed Finance Division to release Rs 1 billion for Sui Southern Gas Company Limited for undertaking gas supply to localities and villages falling within five kilometres radius of gas fields.

Notably, the ECC asked so in order to comply with Supreme Court and High court decisions.

The ECC allowed equity investment abroad amounting to 22.5 million Saudi Riyals through Eastern Products Ltd.

Moreover, it also approved the increase of limit for investments abroad from five million to ten million dollars.

Furthermore, the ECC also approved five projects of different types of development works in North West Industrial Zone and South West Industrial Zone by Port Qasim Authority with their own funds.

GTV