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Coronavirus
VERY HIGH
Pakistan Deaths
19,106
11324hr
Pakistan Cases
864,557
308424hr
Sindh
293,426
Punjab
320,851
Balochistan
23,534
Islamabad
78,382
KPK
124,979

ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar said that the National Economic Council (NEC) should review the overall economic conditions of the country and for advising federal and provincial governments, formulate plans in respect of financial, commercial, social, and economic policies. In a written reply to a question to the National Assembly on Wednesday, the minister said that the present federal government had not abandoned/stopped any ongoing project under the Public Sector Development Plan (PSDP) only due to change of government.

Whereas, he added, the provincial governments formulated and approved their respective project-wise Annual Development Programmes (ADPs), according to their development priorities and strategies. Therefore, the federal government has no details of any provincial projects, which were stopped due to change of the government in the province, he said.

In another written reply, Minister for Economic Affairs Khusro Bukhtiar said that during the financial year (July 2019—June 2020), the government had signed 10 agreements amounting to $3.188 billion with the Asian Development Bank (ADB).

Out of 15 total commitments, an amount of $2.44 billion has been utilised by respective executing agencies from 1st July 2019 — 30th June 2020.

Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, also told the National Assembly that a quantity of 270,295 MT of wheat was exported during the year 2019 with a value of $67.47 million.

He said that a quantity of 414,752 MTs had been imported till 30-09-2020 with a value of $97.40 million during the year 2020.

He said that the federal cabinet had approved import of 1.5 million metric tons of wheat by Trading Corporation of Pakistan (TCP) on the recommendations of the Ministry of National Food Security and Research to meet the demand of the country.

He said that the TCP had awarded contracts for import of 330,000 MTs of wheat at $233.85 per MTs.

Moreover, he said that the Department of Plant Protection had issued permit for import of 10, 92,000 MTs of wheat through private importers.

He said that a quantity of 414,752 MTs had been imported till 30-09-2020.

He said that the average rate per 40kg wheat that had been exported in 2019 was Rs1,497.6 on Free on Board (FOB) basis.

However, the average rate of 40 kg wheat that has been imported in 2020 is Rs1,549.9 on Cost and Freight (CFR) basis.

Copyright Business Recorder, 2020