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ECC approves provision of 500,000 MT wheat to KP

ECC allocated 500,000MT imported wheat to meet the requirement. Source: FILE/Online.

ISLAMABAD: Economic Coordination Committee (ECC) of the cabinet on Wednesday approved the provision of 500,000 MT of wheat to the Government of Khyber Pakhtunkhwa during the crop year 2021-22.

Federal Minister for Finance and Revenue Shaukat Tarin chaired the meeting of the committee which approved the request of Ministry of National Food Security and Research.

All charges, including incidental charges will be borne by the Food Department KP for the stock given from PASSCO. It also allocated 500,000MT imported wheat to meet the provincial requirement.

ECC also approved the “Policy for Regulation of NGOs/NPOs receiving Foreign Contributions-2021”. The NGO Policy, 2021 has been designed with the aim to fostering a sense of partnership between government and non-government sectors.

Furthermore, under the new policy approval process (for registration) will be completed within 60 days, maximum, through online submission of application and consultation, doing away with manual processing and eliminating long delays.

The new policy seeks to expand space for credible organizations for a playing an effective role in socio-economic development to stop NGOs with dubious credentials.

ECC appreciated the efforts of Economic Affairs Division for designing the much-needed policy and directed that any further suggestions/positive feedback from all the relevant stakeholders may also be incorporated in the policy.

READ MORE: ECC decides not to increase prices of wheat

ECC approved the summary of Ministry of Energy (Petroleum Division) for allowing operational losses upto a maximum of 0.5% for gasoline transportation through WOP & MFM pipelines through Inland Freight Equalization Margin (IFEM).

The same will be adjusted against actual based on physical inventory of pipelines to be undertaken periodically. The actual rate will be determined by Oil and Gas Regulatory Authority (OGRA) based on actual losses and excess margin would be brought before ECC.

ECC also approved the request of Ministry of National Food Security & Research for import of three MMT of wheat subject to approval by PPRA Board for building up the strategic reverses of wheat in the country.

ECC approved US$ 17.3m for PIA for payment of recurring as well as one-off liabilities in respect of Roosevelt Hotel New York.  It also directed that Finance, Privatization Commission, Aviation Division should consult and propose a strategy in a month’s time for deciding the future of the asset.