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Finance Minister chairs Economic Coordination Committee meeting

Islamabad, July 04, 2014 (PPI-OT): The ECC of the Cabinet met here today under the chairmanship of the Finance Minister, Senator Ishaq Dar at the Prime Minister’s Office today. In his opening remarks the Finance Minister said that the concerned Ministries should submit their summaries well in advance and necessary background information must be provided enabling the concerned departments to provide their considered inputs before decision making process.

He said that the mover of the summary should be fully aware and updated to answer any supplementary questions. He added that inter-ministerial comments should be obtained prior to the ECC meetings.

The Finance Minister said that once a decision is taken, it is expected that the Secretary concerned will follow-up the decision till its logical conclusion. He further said that budgetary implications must be clearly spelt out in the summary and how will the additional amounts be adjusted in the budget.

The ECC approved immediate release of 60,000 MT of wheat for distribution among the IDPs in NWA. The financial impact of the decision will be Rs.2.28 billion. The forum further decided to set up a Committee headed by Minister for SAFRON Mr. Abdul Qadir Baloch to ascertain the distribution mechanism being followed for the distribution of wheat among the IDPs. The other members of the committee include Mr. Abbas Khan Afridi, Minister for Textile Industry, Secretaries, Ministry of National Food Security and Commerce and a representative of Governor KPK.

The ECC on a summary of Ministry of Commerce approved lifting of ban on import of live animals from countries, which have been declared as negligible risk by World Animal Health Organization (OIE), excluding Israel.

However, the ban on import of feeds containing meat, bone meal and greaves etc. derives from BSE infected animals, commonly known as mad cow disease, shall continue. It was also decided that animals from only such herds shall be allowed for import where there has been no reported case of BSE for the last eleven years, duly certified by the veterinary authority of the exporting country.

It may be mentioned that in June 2001, a ban was imposed for import of live animals; meat etc from BSE infected countries. In May 2013, OIE updated the risk status and allowed import of live animals and other products from negligible risk status of 25 countries.

The ECC also approved the summary of Ministry of Commerce for extension of deadline, up to 31st Oct 2014, for export of 0.25 million MT of sugar which was already approved by ECC in its meeting held on 27th March 2014.

The ECC further decided to extend the shipment period from 45 to 90 days for export and reduce advance deposit from 25% to 15%. It was further decided that there will be no confiscation of advance deposits by the exporter if they fulfil their quota in 90 days.

The ECC on the recommendation of the Ministry of Industries and Production decided to approve average transportation cost of Rs 20 per 50 Kg of imported urea bag from the National Fertilizer Marketing Limited warehouses to dealers store in order to facilitate farmers in upcoming cultivation season. This will entail a subsidy of Rs.150 million to the government exchequer.

The ECC also approved a summary of Ministry of Petroleum and Natural Resources for allowing import of CNG cylinders/kits/parts thereof for conversion of vehicles at manufacturing/assembling facilities of original equipment manufacturers (OEMS).

The meeting was also attended by Khawaja Mohammad Asif, Minster for Water and Power, Senator Pervaiz Rashid, Minister for Information, Broadcasting and National Heritage, Mr. Ghulam Murtaza Khan Jatoi, Minister for Industries and Production, Mr. Shahid Khaqan Abbasi, Minister for Petroleum and Natural Resources, Mr. Zahid Hamid, Minister for Science and Technology, Mr. Sikandar Hayat Khan Bosan, Minister for National Food Security, Khawaja Saad Rafiq, Minister for Railways, Mr. Abbas Khan Afridi, Minister for Petroleum and Natural Resources, Federal Secretaries and senior officials of the government.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

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