ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet approved importing 50,000 MT sugar to maintain sufficient stock in the country.
The ECC approved to import sugar in three segregated tenders of 50,000 MT each so that there is more participation and increased competition when international prices decline.
Finance minister Shaukat Tarin presided over the meeting of the Economic Coordination Committee (ECC) of the cabinet. Secretary, Ministry of Industries and Production, Jawwad Rafique Malik briefed the Committee about availability of sufficient stocks of sugar.
He further apprised about the steps being taken to import sugar for building strategic reserves. The committee further emphasised ensuring smooth supply of sugar throughout the country and directed to initiate crushing by sugar mills in the beginning of November as last year.
The ECC accorded approval for the lowest bid received for award of fourth international wheat tender for the FY 2021-22 to import 120,000 MT of wheat as tabled by the Ministry of National Food Security and Research.
The ECC considered and approved another summary presented by the Ministry of National Food Security and Research for purchase of 40,000 MT of Wheat from PASSCO by the World Food Programme (WFP).
Kamyab Pakistan Program
Finance Division presented an updated summary regarding Kamyab Pakistan Program (KPP) before ECC. The program has been streamlined in consultation with stakeholders to disburse micro-credit for uplifting marginalized segments of society.
KPP has five components – K amyab Karobar, Kamyab Kissan, Naya Pakistan low-cost Housing, Kamyab Hunarmand and Sehatmand Pakistan. Under the first three components, micro-loans shall be disbursed among eligible persons registered with Ehsaas through National Socio-Economic Registry (NSER) who have family income of up to Rs.50,000 per month. The last two components of KPP will be integrated with the existing programs.
KPP is aimed to integrate with the government’s ongoing skill development program for imparting educational and vocational training. As per revised framework of KPP, selection of wholesale lenders (Banks) will be through competitive bidding in line with PPRA rules.
During the first phase, KPP will be launched in Balochistan, Khyber Pakhtunkhwa, Gilgit-Baltistan, AJK, and a few of the poorest districts of Sindh and Punjab. The programme will be extended to the whole of Pakistan eventually.
On the implementation side, a digital portal, Kamyab Pakistan Information System (KPIS), is being established which is fully integrated with telecommunication companies, NTC, Ehsaas/NSER, and NADRA for verification of beneficiary’s eligibility.
After due deliberation, the ECC approved the Kamyab Pakistan Program for onward submission before the Cabinet. The members of ECC commended the salient features of the Kamyab Pakistan Program and regarded it a flagship initiative of the present government to empower the under-privileged population having limited resources.
Supplementary grants
The ECC considered and approved another summary by the Finance Division regarding fixation of dividend at the rate of 10 percent on the face value of SBP shares for the financial year ended on June 30, 2021.
Ministry of Industries and Production presented a summary regarding approval for disbursement of salaries to PSM employees for the FY2021-22. The ECC approved payment of salaries to the employees on monthly basis till implementation of the complete human resource retrenchment plan.
The ECC considered and approved a Technical Supplementary Grant (TSG) in favour of the Ministry of Interior for construction of Frontier Constabulary Training Centre, Michni, Khyber Pakhtunkhwa amounting to RS.50 million during FY 2021-22.
Ministry of Energy presented a summary regarding financial support to GENCOS. After detailed deliberations, the ECC approved Rs500 million as a Technical Supplementary Grant out of the total budget allocated to the Power Division.
Lastly, the ECC considered and approved another summary presented by the Power Division regarding 40 percent payment of the total amount payable to IPPs of 2002 policy.
