ECC grants permission to import wheat from Russia

ISLAMABAD: The Economic Coordination Committee (ECC) has granted permission to import wheat from Russia to meet the country’s demand.

The ECC meeting, chaired by Finance Advisor Abdul Hafeez Sheikh, approved the import of 180,000 metric tonnes of wheat from Russia. “Government-to-government wheat will be imported from Russia,” he said.

According to the statement, approval was also given to abolishing all taxes and duties on wheat imported from Russia. The country has 5 million tonnes of wheat in government reserves.

According to the statement, another 110,000 tonnes of wheat will be imported by December. The ECC also approved a sales tax exemption on the import of 300,000 metric tonnes of sugar.

According to the statement, the ECC also approved a local sales tax exemption on the import of 300,000 metric tonnes of sugar. Ministry of National Food Security Fakhr Imam briefed the ECC on the import of wheat and sugar.

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It may be recalled that on 17th September, the ECC had allowed the import of wheat as per the requirement of the country.

The financial adviser said that the availability of wheat was a very important issue.  He had directed to ensure the availability of wheat at reasonable prices across the country.

According to a press release, the meeting decided to start the import of wheat through the Trading Corporation of Pakistan Limited. Wheat will be imported through tenders from time to time as per requirements.