Pakistan may barter rice for Philippine sugar

ISLAMABAD – The Federal Cabinet Wednesday decided to increase across the board pay of army officers by 15 per cent and of jawans by 20 per cent irrespective of their deployment in any part of the country.
The cabinet which met under the chairmanship of Prime Minister Yousuf Raza Gilani, also asked Trading Corporation of Pakistan (TCP) to import 0.5 million tons of sugar through open competitive bidding to meet the growing needs in the country.
“The Philippines government has told the Pakistan government that they can provide one million tons of sugar at a better price,” Minister for Information Qamar Zaman Kaira told a news conference while giving a briefing on the Cabinet meeting.
“They are ready to get rice in exchange from Pakistan but it’s not a condition,” he said after a Federal Cabinet meeting.
“We will take a decision in the country’s interests. The lowest possible price and the sugar that conforms to standards of Pakistani sugar, we will import that sugar,” he said.
The cabinet was also informed that Philippines and UAE have shown interest in providing sugar to Pakistan. Manila has also shown willingness to get rice from Pakistan in exchange of sugar.
The Cabinet approved eight rental power projects, which have been indicated as suitable in the audit report of Asian Development Bank.
The cabinet formed a committee consisting of Finance and Interior Ministers to consult with Balochistan government to bring at par the pay of police personnel in the province at par with other provinces.
Giving briefing about the economic situation in the country, Finance Minister Shaukat Tarin informed that despite security situation, political instability and drought like conditions, the economy is showing positive trend and the GDP growth during the current financial year will be around 3.4 per cent.