ECC approves wheat import of 450000MT from Russia

ISLAMABAD: The Economic Coordination Committee has accorded approval to import of 450,000 metric tonnes of wheat from Russia.
The approval was granted at a meeting of Committee held in Islamabad on Monday, with Finance Minister Ishaq Dar in the chair.
This wheat will be imported at a rate of 372 dollars per metric ton for supply at Gwadar from February to March next year.
The Committee also approved import of 130,000 metric tonnes wheat at the same rate from a UK based company to be supplied at Karachi port from 16th of this month till February next year.
The ECC decided that additional cost on inland transportation from Gwadar Port will be borne by Pakistan Agricultural Storage & Services Corporation Ltd to be recovered from provinces at the time of release of wheat stock.
The meeting also approved proposal of Finance Ministry to change the title of the revolving fund account for CPEC Independent Power Producers from ‘Pakistan Energy Revolving Fund’ to ‘Pakistan Energy Revolving Account’.
According to a press statement issued after the meeting, Ministry of National Food Security and Research submitted a summary on Award of 7th International Wheat Tender 2022 opened on 30th November, 2022. Keeping in view results of 7th International tender and G2G offer, the ECC approved the lowest bid from M/s Cereal Crop Trading LLC @ US$ 372/MT for supply of 130,000 MT at Karachi ports for the shipment period from 16th December, 2022 8th February, 2023 and also granted approval of the offer of M/s Prodintorg, Russia on G2G basis @US$ 372 /MT for supply of 450,000 MT at Gwadar Port for shipment period from 1st February, 2023 to 31st March, 2023.
Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Syed Murtaza Mahmud, Shahid Khaqan Abbasi MNA/Ex-PM, Minister of State for Finance and Revenue Dr. Ayesha Ghous Pasha, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, SAPM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, Federal Secretaries and other senior officers attended the meeting in person while Federal Minister for Commerce Syed Naveed Qamar, Minister of State for Petroleum Musadik Masood Malik, Coordinator to PM on Commerce and Industry Rana Ihsan Afzal and Governor SBP, MD PASSCO joined the meeting through Zoom. -NNI