Economic Co-ordination Committee (ECC) of the Cabinet on Wednesday increased Regulatory Duty (RD) by 100 per cent (from 20 per cent to 40 per cent) on import of sugar in response to a summary of Commerce Ministry. Commerce Ministry is already facing an inquiry in the National Accountability Bureau (NAB) with regard to incentives given to sugar mills on export of sugar a few years back.
According to an official statement, the Finance Minister while according the approval made the observation that concerned ministries/authorities must keep an eye on the price trend of both the commodities in the market. He also called upon sugar millers to clear dues of the sugarcane farmers on priority basis. The ECC also allowed enhancement in regulatory duty on the import of wheat from 25% to 40% on a summary moved by the Ministry of National Food Security and Research. The decision for increase in duty has been taken in line with a demand of farmers' community and availability of abundant stocks of these commodities in the country.
Ministry of National Food Security is also facing a wheat import scam as Prime Minister has directed to probe the issue after Chief Minister Sindh Syed Qaim Ali Shah and Chief Minister Punjab Mian Shahbaz Sharif held Islamabad responsible for current high wheat stocks. The ECC also approved issuance of Sovereign Guarantee for procurement of 6 Maritime Patrol Vessels (MPVs) for Pakistan Maritime Security Agency(PSMA) on soft loans at a cost of Rs 13,871 million ($135 million) on a proposal submitted by the Ministry of Defence. EAD, Finance Division and State Bank will now take measures for issuance of a guarantee to M/s China Shipbuilding & Trading Company Ltd (CSTC), the firm which was declared successful by the Defence Production Division after international tendering for procurement of the six MPVs.
On another proposal submitted by the Ministry of Food Security, the ECC approved extension in time period for export of wheat and wheat flour (Aata) for the provinces of Sindh and Punjab up to July 31, 2015. It may be mentioned that the ECC in its meeting in January 2015 had allowed the provinces of Punjab and Sindh to export a total of 1.2 million tons of wheat and later on 9thFebruary also allowed export of wheat flour (aata). The ECC in its meeting on 19th of April had fixed 30th April as the date for export of wheat by Sindh and 15th May for Punjab. However, in view of the request by provincial food departments and Pakistan Flour Mills Association, the period for export has now been extended to 31st July with instructions that export process be completed within 30 days beyond this date. On a proposal from the Privatisation Commission, the Chair with the consensus of the house approved an amount of Rs 64 million for payment of two months' (April-May 2015) salaries to the employees of the Pakistan Machine Tool Factory. On another proposal from the Privatization Commission, the ECC approved payment of two months' (January-February 2015) salaries to the employees of Pakistan Steel Mills(PSM) and also asked PSM to give a clear road map regarding its working so that a decision about its future status could be made accordingly.
On a proposal from the Ministry of Water and Power regarding recovery of outstanding amounts and an Anti-Theft Campaign in DISCOs, the ECC decided that all cases of non-payment of dues during the period of three years preceding July 1, 2012, would be handed over to NAB for recovery. However, the ECC also approved a package of incentives for those who paid their dues. Under this package, the defaulters who pay full amount up to July 31, will be given a 30% rebate. A 25% rebate will be allowed if they pay the full amount in September and a 20% rebate in case they make the payment in August 2015. The ECC also approved a 5% reward for the staff concerned for recovery of receivables of more than three years.
Among other decisions, the ECC approved the power purchase agreement for short-term IPPS (STIPPS) in order to utilise the existing available generation capacity which is around 150 MW. The Finance Minister appreciated efforts of Ministry of Water & Power regarding operationalization of Central Power Purchasing Agency, Guarantee ltd. (CPPA-G) which was pending for more than 10 years.That operationalization is part of power sector reforms which brings transparency in the system.
Taking note that agriculture is a major source of livelihood in Baluchistan and in order to bring the farming community at par with other farming communities of the country, ECC approved to continue the subsidy for a period of two years from 01-12-2014 to 31-12-2016 for agri-consumers of Balochistan.?
Comments
Comments are closed.