ECC approves import of 3m tonnes of wheat

By: News Desk
Published: 09:30 PM, 28 May, 2022
ECC approves import of 3m tonnes of wheat
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The Economic Coordination Committee (ECC) that met Saturday under the chair of Finance Minister Miftah Ismail approved the proposal to import three million tonnes of wheat, reported 24NewsHD TV channel.

According to details, two million tonnes of wheat will be imported at the government level while one million tonnes of wheat will be bought through an international tender.

The committee also directed the Ministry of Food Security to seek the wheat requirements from the provinces as well.

The ECC also approved the import of 200000 metric tonnes of urea fertilizer from China. The fertilizer will be imported from China in 90 days on deferred payments.

The ECC gave the approval to abolish a 2% additional customs duty on palm oil imports. The approval of tax exemption was also given on projects managed under Saudi Fund.

The ECC also approved the issuance of Rs62billion as subsidies on petroleum products.

The meeting also approved a subsidy of Rs.2.44billion for the government Hajj scheme as well as a grant of Rs.107.8million to the Ministry of Home Affairs for maintaining law and order.

The ECC also okayed grants of Rs.50 billion for the Power Division and Rs.24 billion for the Benazir Income Support Program.

The committee also approved an extension of the K2 and K3 projects. It was also decided in the meeting that the shortfall in flour subsidy in Punjab will be met by the federal government.

The Cabinet's Economic Co-ordination Committee also approved the extension of the PM's relief package on utility stores for another two weeks. The subsidy on flour, rice, sugar, beans and ghee will continue for another two weeks.

Categories : Business