The Economic Coordination Committee (ECC) of the cabinet Tuesday gave approval to increase the wheat procurement target for PASSCO from 1.40 to 1.80 MMT along with the required Cash Credit Limit for the purchase of additional quantity.
The meeting, chaired by Finance Minister Muhammad Aurangzeb, also reviewed and approved a number of proposals from various government ministries and divisions.
The ECC’s approval to increase the wheat procurement target for PASSCO would help it scale up its ongoing wheat procurement drive.
The ECC also approved the proposal for the import of 200,000 MTs of Urea fertilizer to meet the requirements for Kharif 2024 as proposed by the Ministry of Industries and Production. The ministry was also directed to continuously assess the demand and supply situation of urea and suggest appropriate measures to the ECC in a timely manner.
The ECC also gave the go-ahead to the Ministry of Industries and Production’s request for the disbursement of salaries of PSM workers and directed the
ministry to present a detailed plan for the future use of the asset along with timelines.
The committee allowed the Power Division’s request for the release of budgeted expenditures to clear the arrears of tariff differential subsidy of Rs. 70 billion for KE and Rs. 55 billion for AJK. This would help ease the liquidity requirements of the Power Sector.
The meeting considered a summary to authorize BISP to arrange funds from its allocated budget for financing the Special Relief Package for Daily Wage Workers on the Chaman Border, highlighting government support for the vulnerable group.
Further, the ECC considered and approved proposals for Technical Supplementary Grants, including:
Rs. 4.8 billion for the Pakistan Atomic Energy Commission.
Rs. 5.8 billion for the Earthquake Reconstruction and Rehabilitation Authority to clear matured liabilities of the contractors.
Rs. 3.2 billion to the Finance Division as rupee cover for the WB-funded Financial Inclusion and Infrastructure Project (FIIP).
Rs. 162 mi
llion to the Ministry of Housing and Works for Repair and Maintenance of Public Buildings in Islamabad.
Rs. 2.2 billion to the Ministry of Interior for the FATA TDP-ERP Project.
The meeting was attended by the Minister for Commerce Jam Kamal Khan, Minister for Petroleum Musadik Masood Malik, Minister for Privatization Aleem Khan, Minister for Industries and Production Rana Tanveer Hussain, Chairman SECP, Deputy Chairman Planning Commission, Federal Secretaries, and other senior government officials of the relevant ministries. Minister for Economic Affairs Ahad Khan Cheema and MD PASSCO attended the meeting online
Source: Pro Pakistani