The Economic Coordination Committee of the Cabinet (ECC) approved on Tuesday the modalities of ministry of National Food Security and Research for export of 0.5 million tons surplus wheat and wheat products of the public sector.
The meeting of ECC was presided over by Minister for Finance Asad Umar here.
During the meeting Ministry of National Food Security and Research presented the overall position of surplus wheat stock and wheat products in the country and presented modalities for the export of 0.5 million tons surplus wheat stock and wheat products of the public sector.
The ECC approved the above modalities in order to create space for the next procurement and also directed ministry of national food security and research to consult provinces and PASSCO to manage the production of wheat. The ECC also observed that there should be a balance among the cultivation areas of major crops viz wheat, cotton, and sugarcane matching the demand and supply of the products.
Meanwhile the ECC also accorded approval to the proposal of Ministry of Energy (Petroleum Division) for supply of up to 25 MMCFD additional gas from Adhi Gas Field to Sui Northern Gas Pipelines Ltd. (SNGPL) to meet the existing gas demand on the system.
On the occasion, ECC also reviewed the demand and supply situation of urea in the country.
The exercise, ECC observed would help ensure availability of sufficient stocks of the fertilizer to meet demand of the farmers’ community.
The meeting directed that supply of gas from SNGPL network should continue to the fertilizer plants (Agritech and Fatimafert) till further orders and directed ministry of industries and production to submit a plan within two weeks for keeping the fertilizers plants operational throughout the year to ensure uninterrupted supply of urea conforming to the demand in the country.
The ECC while considering the proposal regarding provision of funds for personnel related dues in the Pakistan Machine Tool Factory (PMTF), directed Ministry of Industries & Production to share with the Committee, a strategy to revitalize the PMTF.
The ECC observed that the institution had done great service for the engineering sector and had the potential to effectively carry on this role, for which it needed to be strengthened.
ECC also discussed proposal of Ministry of Energy (Petroleum Division) for fuel supply agreement between Pakistan State Oil (PSO) and State Oil Company of Republic of Azerbaijan.
The Committee advised Ministry of Energy to carry out further consultations with stakeholders including Ministry of Commerce and Public Procurement Regulatory Authority before a final decision in the matter.