ISLAMABAD: The Economic Coordination Committee (ECC) here on Wednesday approved the import of 50,000 metric tonnes of urea from China on immediate basis subject to clearance from the Pakistan Standards and Quality Control Authority (PSQCA).
According to the details, the committee meeting which was presided over by Federal Minister for Finance and Revenue, Shaukat Tarin, allowed the import on government-to-government (GoG) basis with China.
Among others, the meeting was attended by Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, Federal Minister for Energy Hammad Azhar, Federal Minister for Privatization Muhammedmian Soomro, Federal Minister for Water Resources Chaudhry Moonis Elahi, Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood, federal secretaries and senior officers.
The ECC tasked the Trading Corporation of Pakistan (TCP) to negotiate price with a Chinese supplier authorised by government of China for further import of urea.
Meanwhile, the committee also approved a summary, with some modifications, presented by Ministry of Finance for rationalisation of tariff on import of vehicles and other items requested by Ministry of Industries and Production (MOIP) and other sectors.
The forum also decided to review some recommendations relating to automotive sector after six months.
The ECC also approved requests of Technical Supplementary Grants (TSG) presented by Petroleum Division and Finance Division. The Power Division’s request for TSG was also approved subject to reconciliation with the Finance Division.