Economic Coordination Committee has given go-ahead to the private sector to import wheat to control prices of wheat and flour in the market and to ensure availability of both the commodities at reasonable prices across the country.
The ECC meeting was held in Islamabad today (Monday) with Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh in the chair.
The meeting also decided not to restrict the import of wheat to any limit by the private sector. It also decided to monitor the situation on monthly basis to ensure availability of wheat and flour in all parts of the country at a reasonable price.
The forum also considered and approved five proposals by the Interior Division for technical supplementary grants, including one technical supplementary grant of 2.5 billion rupees to clear accrued verified liabilities of Punjab Mass-transit Authority; two separate TSGs of 200 million rupees and 36.400 million rupees for ICT Police to clear outstanding liabilities of Shuhada families; and two separate TSGs of 105.621 million rupees and 60.581 million rupees for ICT Police to clear outstanding liabilities during CFY 2019-20.
The meeting also approved a proposal by the Finance Division for TSG of 1300 million rupees to meet critical demands related to medical stores and utilities for the Pakistan Navy. On another proposal by the Defence Division, the ECC allowed the CDA to collect charges against allotment of 45 acres land in Jagiot Farm Islamabad to Directororate General of ISI as per 2250 rupees per square yard rate with the total implication of 490.05 million rupees as already approved by the Prime Minister in May 2018. The ECC also approved a technical supplementary grant amounting to Rs 490.05 for the purpose.
On a proposal by the Industries and Production division, the ECC approved a package combining reduced duties and taxes for a period of three months to ensure uninterrupted supply of oxygen gas and oxygen cylinders in the country for medical purposes.
The ECC also directed the Ministry of National Health Services Regulations and Coordination and Ministry of Interior to clear all the outstanding dues payable to oxygen manufacturing companies as per the legal provisions of contracts.
The forum also considered and approved a proposal by the Finance Division for a new lending policy to the provincial governments for their Ways and Means requirements and for signing of agreements by Finance Division and the State Bank of Pakistan to implement the new lending policy. Under the new policy, the existing Ways and Means limit for Punjab has been changed from 37 billion rupees to 77 billion rupees, from 15 billion rupees to 39 billion rupees for Sindh, from 10.1 billion rupees to 27 billion rupees for Khyber Pakhtunkhwa and from 7.1 billion rupees to 17 billion rupees for Balochistan.
Source: Radio Pakistan