ECC approves tender for 100,000 tonnes sugar import

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Monday approved an international tender for import of 100,000 tons of sugar and extended subsidy on six essential items for 15 days.

The ECC took the decisions during a meeting presided over by Minister for Finance and Revenue Shaukat Tarin. The committee approved a summary by industries and production division for approval of tender opened on 25the June for import of 100,000 tons of sugar. The lowest offer of $526.8 per tonne cost and freight was submitted by Al Khaleej Sugar on bids invited by the Trading Corporation of Pakistan (TCP).

State-run TCP floated a number of tenders in the past to import sugar amid widening gap in demand and supply in the country. Regarding the proposal for Intervention price for cotton 2021/22 crop by food ministry, the ECC constituted a committee to submit its report within 15 days. The ECC on a summary by maritime ministry directed the petroleum and finance divisions and Pakistan State Oil to provide a timeframe for payment of the outstanding dues to Pakistan National Shipping Corporation.

On a summary about extension of general subsidy on five essential items through Utility Stores Corporation of Pakistan, the ECC allowed extension in subsidies for 15 days from 1st July and constituted a committee to work out future course of action within 15 days.

The ECC on a summary by power division about payment of outstanding amount of net hydel profits directed power and finance divisions to come up with a possible solution/option for raising up required financing by Water and Power Development Authority within two weeks.

The ECC approved technical supplementary grant of Rs10 million for aviation division and Rs73.8 million. The committee further approved technical supplementary grant of Rs20.7 million for Pakistan Academy for Rural Development Peshawar and Rs1 billion for payment of disparity reduction allowance to concerned offices. The ECC approved technical supplementary grant of Rs16.7 million for inter-provincial coordination division for payment to federal land commission and approved Rs1 billions for interior division for Frontier Corps Balochistan (south). Technical supplementary grant of Rs1.6 billion was approved for department of immigration and passports and Rs456.6 million for Federal board of Revenue to pay off the pending liabilities of the project titled “development of integrated transit trade management system”.

The ECC approved technical supplementary grant of Rs2 billion for foreign affairs division and Rs8 billion for textile wing of commerce division. Technical supplementary grant of Rs5.8 billion was approved for utilisation of foreign aid of projects for ministry of planning, development and reforms.