- Ministry asked to review the price mechanism of fertiliser industry to ensure the provision of urea to farmers at cheaper rates
ISLAMABAD: In order to facilitate the farmers and to meet their demand, the Economic Coordination Committee (ECC) of the Cabinet approved an immediate import of 100,000 tonnes of urea.
During the ECC meeting, chaired by Finance Minister Asad Umar on Wednesday, the Industries and Production Division briefed about the availability of urea in the country.
Apart from approving the import of 100,000 tonnes of urea, the ECC also decided to allow an additional import of urea to facilitate any demand-supply gap.
The ECC directed the Ministry of Industries and Production to review the price mechanism of the fertiliser industry to ensure the provision of urea to farmers at cheaper rates.
The committee directed the relevant institution to check market manipulation activities in the fertiliser sector and use all the powers available under the law to penalize such behaviour.
Meanwhile, the committee was apprised by the Industries Division about the status of National Accountability Bureau (NAB) cases against seven people involved in corruption in Pakistan Steel Mills.
The Interior Division informed that the names of the seven accused had been recommended for placement on the Exit Control List (ECL).
Giving a presentation to the committee, 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.
The Statistics Division on the occasion gave a presentation to the committee about inflation and price situation of various items in the country. It was decided that a sub-committee would be constituted under the chairmanship of National Food Security & Research minister to review the supply and demand situation of essential food items and 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.