Additional import of urea allowed

The Eco-nomic Coordination Committee of the Cabinet (ECC) allowed immediate import of 100,000 tonnes of urea and constituted a body to review demand and supply situation of essential commodities after the government faced criticism from all quarters over price hike of essential commodities during the last few months. A meeting of the ECC presided over by Finance Minister Asad Umar considered a summary of the Industries & Production Division and decided to allow additional import of urea after getting a briefing on the availability of urea in the country.
An official said that meeting also expressed concern over recent reports about increase in the price of urea and directed the Ministry of Industries and Production to review the price mechanism of fertilizer industry for ensuring provision of urea to farmers at cheap rates. The ECC also directed the relevant institutions to check market manipulation activities in the fertilizer sector and use all the powers available under the law to penalise such behaviour.
The committee was apprised by the Industries Division about the status of NAB cases against seven persons allegedly involved in corruption in Pakistan Steel Mills. The Interior Division informed the meeting that the names of seven persons have been recommended for placement on Exit Control List (ECL).
Giving a presentation to the committee, the Utility Stores Corporation informed about preparations for the Ramazan Package. The ECC directed the Industries Division to ensure that Ramazan package is implemented effectively and the intended relief is passed on to consumers.
There has been growing criticism on the government due to significant increase in inflation since it came to power and this compelled the finance minister to get a presentation from Statistics Division. A detailed briefing was given by the Statistics Division about inflation and price situation of various items in the country.
The ECC decided to constitute a subcommittee, under the chairmanship of minister for national food security & research, to review the supply and demand situation of essential food items to ensure stable prices in the country. The committee accorded approval to a proposal of Ministry of Petroleum regarding Fuel Supply Agreement between Pakistan State Oil (PSO) and State Oil Company of the Republic of Azerbaijan (SOCAR). The committee also considered and approved various proposals for supplementary and technical supplement grants.