ECC allows disposal of 500,000 tons of surplus wheat of PASSCO

ECC allows disposal of 500,000 tons of surplus wheat of PASSCO

Economic Coordination Committee has accorded approval to make necessary amendments in the ECC approved Supplemental Agreement to Implementation Agreement for China Pakistan Economic Corridor projects.

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

Taking into account the recent recommendations of Council of Common Interests, the meeting allowed the export of 1.5 million metric tonnes sugar in view of its surplus availability.

The ECC permitted procurement of goods and services as per the provisions of the Framework Arrangement and EXIM Bank of Korea Guidelines.

In order to discourage fuel adulteration and tax evasion, the ECC allowed addition of Fuel Marker in Superior Kerosene Oil.

The Committee also approved determination and notification of UCH-II Gas price, as agreed under Gas Pricing Agreement by Oil and Gas Regulatory Authority.

The meeting acceded to a proposal for levying of regulatory duty on import of LPG. The step would help maintain parity with the locally produced LPG.

The ECC also allowed disposal of 500,000 tonnes of surplus wheat of PASSCO through local sale.