ECC approves procurement of wheat, decides to facilitate sugar mills

ISLAMABAD: Economic Coordination Committee of the Cabinet has approved the procurement target of 6.1 million tons of wheat for the current fiscal year.

The approval was given at a meeting of the committee in Islamabad with Prime Minister Shahid Khaqan Abbasi in the chair.

The committee also decided to facilitate sugar mills for timely procurement of sugarcane and to ensure payments to the farmers at prescribed rates.

The issuance of government’s Sovereign Guarantee against financing facility of over thirteen billion rupees from local banks for evacuation of power from 1320 MW imported coal power plant at Hub was also approved.

Article continues after this advertisement

The ECC approved a plan to settle power sector payables to help ensure that government-owned companies including PSO, SSGPL, SNGPL, Gencos, DISCOs and nuclear power plants continue operating normally.

The meeting also gave approval to signing the agreement between Pakistan and SAARC Arbitration Council for exemption from duties and taxes to the council and its officials.

- Advertisement -
- Advertisement -

Must Read

CPPA seeks Rs4.5 per unit hike in electricity price

Power tariff is likely to go up as Central Power Purchasing Agency (CPPA) has sought Rs4.5 per unit hike and National Electric Power Regulatory...