ISLAMABAD – The Economic Coordination Committee (ECC) of the cabinetWednesday enhanced the wheat support prices to Rs1400 per 40 kilogram.
The ECC, which met here under the chairmanship of Adviser to Prime Ministeron Finance and Revenues, Hafeez Shaikh also convened a special sessiontomorrow afternoon to discuss a detailed plan to keep the flour prices atthe lowest possible level throughout the year.
The step has been taken keeping in view of any increase in support priceand incidental charges for supply of Pakistan Agricultural Storage andServices Corporation (PASSCO) procured wheat to provinces and allied issuesrelated to procurement of wheat by provinces and the private sector.
The committee approved a proposal by Power Division for a special reliefpackage of Rs20 billion to further continue provision of subsidizedelectricity until June 2020 to five export-oriented sectors.
The ECC also approved a proposal by Ministry of Energy (Power Division)related to two amendments aimed at providing ease of doing business toupstream petroleum sector.
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The amendments are related to extension of exploration licences beyond twoyears by ECC rather than the Minister in Charge of Petroleum Division andcreation of a new Zone-1 (F) for onshore licensing regime and consequentrevision in the Zonal Map.
The ECC also okayed National Telecommunication Corporation’s revised budgetestimates for 2018-19 and 2019-20.
The ECC also gave in principal approval to a proposal for SAR 22.5 millionequity investment abroad by Eastern Products Pvt (Ltd) Pakistan.
