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Print

Strategic reserves: Import of 3mn tons of wheat approved

  • ECC also approved $ 17.3 million for Pakistan International Airlines Investment Limited for payment of recurring as well as one-off liabilities in respect of Roosevelt Hotel
Updated 17 Jun 2021

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the import of three million metric tons of wheat –contingent to the PPRA Board’s consent – to build up the strategic reserves of wheat in the country.

A meeting presided over by Finance Minister Shaukat Tarin was presented a summary by the Ministry of National Food Security and Research for import of wheat.

The ECC approved the request and allowed import of three million metric tons of wheat subject to approval by the PPRA Board for building up the strategic reverses of wheat in the country.

The ECC also approved US$ 17.3 million for the Pakistan International Airlines Investment Limited (PIA-IL) for payment of recurring as well as one-off liabilities in respect of Roosevelt Hotel as verified by the auditor and recommended by the PIA-IL Board.

The meeting directed that Finance, Privatization Commission, the PIA, and the Aviation Division should consult with each other, and propose a strategy in a month’s time for deciding the future of the asset.

The ECC also approved the Ministry of Energy’s (Petroleum Division’s) summary for allowing operational losses up to a maximum of 0.5 percent for gasoline transportation through White Oil pipeline (WOP) and Mohammadkot-Faisalabad-Machihike (MFM) pipelines through Inland freight equalisation margin (IFEM).

The same will be adjusted against actual based on physical inventory of pipelines to be undertaken periodically.

The actual rate will be determined by the Oil and Gas Regulatory Authority (OGRA) based on actual losses and excess margins would be brought before the ECC.

The ECC approved the request of the Ministry of National Food Security and Research for provision of 500,000 metric tons (MT) of wheat to the government of Khyber-Pakhtunkhwa out of the PASSCO’s stock during the crop year 2021-22 on usual terms and conditions.

The meeting decided that all charges, including incidental charges, will be borne by the Food Department of the KP.

Similarly, 500,000 MT of imported wheat was also allocated to Food Department, KP to meet the provincial requirement.

The ECC approved the Policy for Regulation of NGOs/NPOs receiving foreign contributions-2021.

The meeting was told that the NGO Policy, 2021 has been designed with the aim to fostering a sense of partnership between the government and non-government sectors.

In addition, the meeting was told that 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 meeting was told that the new policy seeks to expand space for credible organisations for playing an effective role in socio-economic development, while deterring NGOs with dubious credentials.

The ECC meeting acknowledged the efforts of the Economic Affairs Division for designing the much-needed policy, and directed that any further suggestions/positive feedback from all the relevant stakeholders may also be incorporated in the policy and a report on the same may be shared with the forum in 4 to 8 weeks.

The ECC approved Technical Supplementary Grants (i) Rs1.370 billion for the Finance Division to provide wheat subsidy to the government of Gilgit-Baltistan; (ii) Rs32.097 million for the Ministry of Industries and Production to meet the expenditure of its various organisations; (iii) Rs1.6 billion for the Ministry of Industries and Production for clearing the bill of the SNGPL for the month of May 2021; (iv) Rs274.161 million for the Ministry of Information and Broadcasting to meet the shortage of budget of PTV Multan, AJK, English News Channel and APPC; (v) Rs570 million for the Ministry of Interior for Security enhancement at Pakistan-Afghanistan border; (vi) Rs56.341 million for the Ministry of Maritime Affairs for its various miscellaneous expenditure; (vii) Rs145 million for the Pakistan Nuclear Regulatory Authority to meet its various employee-related expenses; (viii) Rs2.467 billion for Revenue Division for meeting the requirements of Pakistan Raises Revenue Programme; (ix) Rs834 million for Pakistan Atomic Energy Commission to meet its employee-related expenditure; (x) Rs49 billion for Karachi Coastal Power Project Unit 1 and 2 as requested by the Pakistan Atomic Energy Commission.

Copyright Business Recorder, 2021