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Print Print 2023-03-02

Charges on stuck cargoes waived off: ECC approves uniform wheat support price

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a uniform procurement price of ...
Published March 2, 2023

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has approved a uniform procurement price of wheat crop 2022-23 at Rs3,900/40 kg, and decided to waive off all the charges of storage of stuck up containers, cargos at Karachi Port Trust.

The ECC meeting presided over by Finance Minister Ishaq Dar on Wednesday approved hybrid model of Ramzan Relief Package (targeted and un-targeted) subsidy on 19 items budgeted Rs5 billion and uniform tariff for K-Electric at par with XWDISCOS 1st Quarter 2022-23 and second quarter 2021-22.

On a summary moved by the Ministry of Energy (Power Division) regarding uniform tariff for K-Electric at par with XW-DICSOS 2nd Quarter 2021-22, the ECC approved tariff rationalisation for K-electric by way of adjustments on the consumption of July 2022 to September 2022 and to recover from consumers from March 2023 to May 2023, respectively. This would result in an impact of tariff increase of Rs1.5547/unit with recovery period of three months.

Stranded containers: govt says it will waive KPT and Port Qasim charges

On another summary moved by Ministry of Energy (Power Division) on uniform tariff for K-Electric at par with XWDISCOS 1st Quarter 2022-23, the ECC allowed tariff rationalisation by way of adjustments for K-electric on the consumption of February to March 2023 and to recover from consumers in March-2023 to April 2023 respectively. This will result in an impact of tariff increase of Rs3.21 per unit with recovery period of two months.

The ECC also considered another summary of Ministry of Energy (Power Division) and approved the proposal regarding enhancement of surcharge for financial year 24 to cover federal government obligations towards power producers.

Further, these surcharges for fiscal year 2024 will also be applied to K-Electric consumers to maintain uniform tariff across the country.

The ECC considered a summary tabled by the Ministry of National Food Security and Research regarding procurement price of wheat crop 2022-23 and after a detailed discussion approved a uniform procurement price of wheat crop 2022-23 at Rs3,900/40kg.

Ministry of Industries and Production presented a report on the logistic plan of PASSCO for in-land transportation of imported wheat 2022-23. The ECC considered and noted the report.

The ECC considered a summary submitted by Ministry of Maritime Affairs and approved Karachi Port Trust (KPT) Board Resolution regarding waiving off all the charges of storage on the stuck-up containers/ cargo landed help up at Karachi Port as a result of non-retirement of Letter of Credits and remittances of foreign exchange subject to condition that demurrages charges on each case beyond Rs5 million will be waived off after getting certification from SBP. The ECC further directed to submit a report on magnitude and amount of cleared consignments on monthly basis.

The ECC also approved Technical Supplementary Grants/ Supplementary Grants which included; (i) Rs200 million in favour of Ministry of Housing and Works for execution of development schemes- road from Lalmosa to Noona Wali Bhago and Malwana with link infrastructure Tehsil Kharian, (ii) Rs429.436 million in favour of Ministry of Housing and Works for development schemes of district Kasur, (iii) Rs702.9 million in favour of Ministry of Housing and Works for execution of schemes in Punjab province under sustainable development goals achievement programme, (iv) Rs12 million in favour of Ministry of Interior for National programme for Improvement of Water courses Phase-II in ICT; (v) Rs20 million in favour of Ministry of Interior for National programme for enhancement command areas in Barani areas of ICT, (vi) Rs1,112.04 million in favour of Ministry of Interior for project implementation letter of HQ FC (South) and HQ FC (North) KP.

Copyright Business Recorder, 2023

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Jawad Tariq Mar 03, 2023 05:36pm
Wheat price should be announced before the planting season so that farmers can actually be encouraged to plant on basis of price. Planting it mid way to harvesting makes no difference as all those who have planted or not planted wheat have already made up their minds.
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