200 KMT fertiliser: ECC decides to explore option of import through G2G arrangement

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has decided that the option of import of 200 KMTs fertiliser through government-to-government arrangement be explored in the first instance.

The ECC meeting presided over by Finance Minister Dr Shamshad Akhtar considered a summary submitted by the Ministry of Industries and Production for the import of 200 KMTs urea fertiliser for the Rabi season. The ECC decided that the option of the import of fertiliser through government-to-government arrangement be explored in the first instance.

The ECC also decided to transfer the Entire Cash Credit Limit along with accrued markup to National Fertilizer Marketing Limited (NFML) with provinces to pick up the cost of import.

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The meeting of the ECC also considered a summary of the Ministry of National Health Services, Regulations and Coordination regarding the “approval of increase in maximum retail prices (MRPs) of 262 drugs under hardship category as recommended by DPC in its 56th and 57th meetings.”

The ECC, after detailed discussion and deliberation, asked the Ministry of National Health Services, Regulations and Coordination to come up by Tuesday next, with well-informed and well-considered recommendations involving a proper and judicious analysis of the pricing mechanism.

The ECC also asked the ministry to engage with the provincial health departments and ensure the finalisation of its recommendations in a rational, balanced and rule-based manner addressing the concerns of the industry and protecting the interests of the ailing consumers already facing inflationary pressures.

The ECC further considered and approved a summary submitted by the Ministry of Energy (Petroleum Division) for the provision of funds worth Rs423.726 million as technical supplementary grant for the PSDP projects of the Petroleum Division.

The meeting was attended by caretaker Ministers for Planning, Development, and Special Initiatives Sami Saeed, Commerce, Industries, and Production Gohar Ijaz, Privatisation Fawad Hasan Fawad, IT and Telecommunications Dr Umar Saif, Power and Petroleum Muhammad Ali, Health Services, Regulation and Coordination Dr Nadeem Jan, Advisor to PM on Finance Waqar Masood, chairman SECP, federal secretaries, and other senior officers from the relevant ministries.

Copyright Business Recorder, 2023