ECC okays proposal to suspend execution date of IPO 2022 regarding timber,wood import till March next year.

ISLAMABAD      -   As PTI has started its long march towards federal capital, the Economic Coordination Committee (ECC) of the Cabinet on Friday has approved Technical supplementary grant of Rs 333.915 million for establishment of Anti-Riot Unit. The ECC meeting, which was chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar has approved technical Supplementary grant of Rs 333.915 million in current financial year 2022-23 in favour of interior ministry, enabling Frontier Constabulary to establish Anti-Riot Unit comprising of 2000 personnel. This is for the second time when ECC approved supplementary grant to deal with the long march. Earlier, on October 10, the ECC had approved more than Rs410 million for effective security arrangements ahead of PTI’s upcoming march on the federal capital. Ministry of Commerce presented a summary on suspension of import conditions contained in Import Policy 2022 with regard to import of Timber/Wood. It was informed that all Pakistan Timber Traders Association (APTTA) requested for extension in the date of implementation of conditions of import permit. The Federal government subsequently suspended the operation of Import Policy provisions till 31st August, 2022. However, to address the immediate concerns of the wood/timber industry, the ECC approved the proposal to suspend the date of implementation of IPO 2022 regarding import of timber and wood till 31st March, 2023. The ECC approved summary presented by Ministry of Industries and Production and allowed TCP to proceed ahead with the lowest subject offer received @ $ 520/MT for import of 300,000 MT of urea fertilizer. Ministry of National Food Security & Research tabled a summary regarding permission for the import of 0.80 MMT of wheat through TCP. It was submitted that ECC on 09-05-2022 allowed TCP to import 3 MMT of wheat and directed to devise import modalities. Modalities were devised and TCP was allowed to import 1.00 MMT of specified milling wheat through international tendering process. Later, public wheat stocks were re-verified by Committee and reported that actual shortfall would be 2.60 MMT, instead of 3 MMT. Therefore, TCP was allowed to import only 0.80 MMT through open tendering as well as through G2G basis out of remaining 1.60 MMT on 06- 09-2022. In view of aforementioned, the ECC approved the proposal and allowed TCP to arrange import of the remaining quantity of 0.80 MMT through open tendering or through G2G arrangement. Ministry of National Food Security & Research submitted another summary regarding request of Food Departments Government of Punjab, Sindh, Khyber Pakhtunkhwa and Baluchistan for additional supply of imported Wheat from PASSCO’s stock. Considering the urgent demand of Provincial Food Departments of Punjab, Sindh, Khyber Pakhtunkhwa and Baluchistan and subject to the approval of respective provincial cabinets, the ECC granted permission to provide 1.00 MMT of imported wheat from PASSCO’s stock to Punjab ( 0.50 MMT) , Sindh ( 0.30 MMT) and KPK ( 0.20MMT) with full cost and incidentals of PASSCO. Further, 0.04 MMT of local and imported wheat @ 50:50 ratio with full cost and incidentals of PASSCO may be provided to Baluchistan. The ECC also discussed in details another summary of Ministry of National Food Security and Research regarding urgent advice related to award of 6th International Wheat Tender-2022 opened on 26th October, 2022 for 500,000 MT. Keeping in view results of 6th International Tender, the ECC approved the lowest bid offered @ $ 373.00/MT for 380,000 MT on CFR bulk at Karachi. Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Minister of State for Petroleum Musadik Masood Malik, SAPM on Finance Tariq Bajwa, Federal Secretaries and senior officers attended the meeting