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ECC gives go-ahead for import of 300,000 tons of wheat

ECC gives go-ahead for import of 300,000 tons of wheat
January 20, 2020
ISLAMABAD (92 News) – The Economic Coordination Committee (ECC) of the Cabinet has given a go-ahead for import of three hundred thousand tons of wheat. The meeting was held in Islamabad under the chair of Adviser on Finance Hafeez Shaikh. The ECC was informed that the first shipment of wheat is likely to arrive in the country by 15th of next month. The committee asked Punjab and PASSCO to release their stocks to overcome wheat shortage in the country. The meeting was informed that Punjab and PASSCO have wheat stocks of forty one lakh tons. Earlier, on a summary submitted by the Ministry of Maritime Affairs, the ECC approved a proposal regarding necessary amendments and exemptions in Income Tax Ordinance, Sales Tax Act and Custom Act for the Gwadar Port and Gwadar Free Zone. The decisions were taken at a meeting of the ECC held at the Cabinet Block on Wednesday with Adviser to the Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh in the chair. The meeting also approved proposals submitted by the Ministry of Industries & Production for payment of salaries to the employees of Pakistan Machine Tool Factory (PMTF) and Pakistan Steel Mill (PSM) as well as a proposal of the Power Division for payment of electricity charges by the Government of Sindh as Thar subsidy for 4514 domestic consumers of Taluka Islamkot. The ECC directed the Finance Division to release one month’s salary amounting to Rs 355 million for the month of June to the PSM employees and further authorise it to arrange for payment of projected net salary of Rs 4097 million to the PSM employees for the Financial Year 2019-20 to be disbursed every month to PSM.