ISLAMABAD (APP) - The Economic Coordination Committee (ECC) of the Cabinet here on Tuesday was informed that 45 ships of imported wheat have reached the country and it directed Ministry of Food Agriculture and Livestock (MINFAL) to use Gwadar Port facility for enhanced transportation of wheat to upcountry. The ECC further directed the Ministry to act as equalizer, ensuring adequate wheat supply to deficit provinces and also keep a watch on stabilising nationwide wheat prices for the benefit of common man. The Economic Coordination Committee of the Cabinet which met under the chairmanship of Adviser to Prime Minister on Finance and Economic Affairs, Shaukat Tarin here at the Prime Minister's Secretariat also reviewed key economic indicators (KEI) and overall pricing situation in the country. It noted that inflationary pressures were registering gradual deceleration owing to sharp decline in commodity pricing in international market particularly POL and palm oil. The ECC observed that benefit of decrease in petroleum products was not evident in the commensurate decrease of local commodity pricing, and directed that steps be taken to provide relief to the common man. It, however, expressed satisfaction that key prices of essential commodities were registering decline. Sugar and wheat stock position in the country was evidently satisfactory after finalizing all wheat import procedures and ensuring adequate sugar stocks. The ECC further directed MINFAL to act as equalizer, ensuring adequate wheat supply to deficit provinces and also keep a watch on stabilising nationwide wheat prices for the benefit of the common man. It also decided to disband an earlier specially constituted committee under the chair of Finance Minister, represented by four provincial chief ministers in consideration of its decision making mandate having been transferred to Daily Economic Monitoring Committee (DEMC). It was decided that in future DEMC would act as an extension of ECC on need basis. While reviewing Printing Corporation of Pakistan's loan pay back capacity against the principal amount of Rs.30.345 million obtained from Government during 1982-86 and 1991-95 at an interest rate of 14.2% to 16%, ECC directed Ministry of Privatisation to fast track PCP's privatisation procedures taking into consideration its financial liabilities. The ECC further advised Cabinet Division to resubmit the issue after necessary homework in consultation with Privatisation Commission. The ECC reviewed TCP's rice procurement and storage capacity besides considering export policy in view of bumper rice crop. It also directed MINFAL and Ministry of Commerce to further review key policy issues concerning developing home-grown where withal to decide support prices of all domestic crops that could motivate domestic farmers for increased crop yield. The ECC further directed all stakeholders to finalise a comprehensive agriculture policy. It, however, approved the Ministry of Commerce's recommendations for permitting TCP to take necessary steps in the light of an earlier decision taken by the Prime Minister on December 5, 2008 with regard to upgrading its storage capacity, procurement, competitive survey of export market and improving the inspection mechanism of the rice to be purchased by TCP in terms of standard and quality. While considering Ministry of Petroleum's recommendations for seeking ECC approval of the guidelines to monitor furnace oil pricing by OGRA, it directed Ministry of Petroleum and OGRA to jointly deliberate on the subject and resubmit fresh recommendations whether furnace oil should be regulated by OGRA. The ECC directed Ministry of Industries and Production to review sugar's overall national and international harvest and recommend an action plan regarding import of raw/refined sugar taking into consideration domestic farmers' interests. The ECC deferred Ministry of Industries and Production's proposal for issuing revised letter of intent (LOI) to M/s Trans Polymer Limited for setting up Polyethylene Plant in Karachi till next meeting. It, however, directed Ministry of Industries and Production to complete its technical homework.