ISLAMABAD: The Economic Coordination Committee (ECC) has given a go-ahead for the release of 650,000 tonnes of wheat from PASSCO stocks to the provincial governments of Khyber Pakhtunkhwa (KP), Sindh and Balochistan to ease out the demand and supply equilibrium in the local market.
The decision was taken at a meeting of the ECC held on Wednesday with Adviser to Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh in the chair.
The ECC took up the wheat situation in the country, particularly the rising trend in wheat prices, and approved a proposal by the Ministry of National Food Security and Research for release of 300,000 tonnes each to governments of Khyber Pakhtunkhwa and Sindh and 50,000 tonnes to the government of Balochistan. The ECC also approved an amount of Rs2.745 billion to be paid as PASSCO incidental charges.
Taking up other agenda items, the ECC considered two separate proposals submitted by the Ministry of Maritime Affairs for payment of different outstanding amounts by WAPDA and Pakistan State Oil to the Port Qasim Authority and constituted a committee under Economic Affairs Minister Muhammad Hammad Azhar to examine the matter and suggest a solution within two weeks.
The ECC also approved a proposal for grant of Technical Supplementary Grant amounting to Rs706.050 million, including Rs650.426 million current and Rs55.624 million development expenditure, to the Ministry of Human Rights in pursuance of a Federal Cabinet’s decision to transfer the functions, subjects and organisations, including administrative and financial matters, of the Special Education & Social Welfare, along with their allied institutions from Federal Education and Professional Training Division, to the Human Right Division.
The ECC further approved a proposal by the Ministry of Interior for grant of a Technical Supplementary Grant amounting to Rs100 million, inclusive of Rs43 million for employee-related expenses and Rs57 million for operating expenditures, for revamping of different departments of the Islamabad Administration.
Moreover, the committee took up an issue regarding the supply of gas to Habibullah Coastal Power Company (HCPC) and approved a proposal by the Petroleum Division for supply of indigenous gas for the interim period of 3 to 6 months, purely on ‘as and when available basis’ with no liquidated damages attached, to HCPC.
The committee also approved a proposal submitted by the Ministry of Energy for allocation of up to 8 MMCFD gas from Chabbaro and up to 10 MMSCFD gas from Gundanwari to SSGCL with the price of gas as per the applicable petroleum policy.
The ECC approved another Ministry of Energy proposal based on uniform seasonal pricing structure of “use more electricity – pay less” to be applicable during the four winter months from November 2019 to February 2020, at the rate of Rs11.9 per unit on all units consumed over and above the units consumed in the corresponding months last year.
