ISLAMABAD, Jan 12 : The Economic Coordination Committee of the Cabinet (ECC) meeting here Tuesday under the chairmanship of Federal Minister for Finance, Mr. Shaukat Tarin approved increase of Rs 7/ kg in sugar price at Utility Stores outlets from Rs 38/kg to Rs 45/kg.
The ECC gave approval for disposal of super basmati rice lying in PASSCO godowns by export to Middle East , Iran , Europe or any other market on government to government basis and through qualified agents at a minimum price of US $ 900/ton for super basmati within 5% limit of broken rice.
The ECC approved the strategy designed for ensuring regular supply of major as well as minor crops in order to sustain food security. The main elements of the strategy include timely announcement of support price for wheat and intervention/indicative price for major and minor crops.
It also decided to ensure timely availability of farm inputs at affordable prices with special emphasis on water conservation and its judicious use, setting area and production targets of major and minor crops in consultation with stakeholders, enhancing farmer’s access to modern crop varieties and new technologies and promoting adoption of good agricultural practices for production of major and minor crops.
In case of shortage of essential food commodities, their supply will be ensured by the public and private sectors through imports and maintenance of buffer stocks.
The ECC also approved the Standardized Security Agreements for hydro power projects under the Policy for Power Generation 2002. The ECC authorized the Board of PPIB to approve any project specific amendment in the Standardized Security Hydropower Agreements required during negotiations provided GOP obligations or liabilities are not increased.
The ECC approved the recommendations of the Committee on Revival of
the Risalpur Export Processing Zone which include allowing export of the manufactured goods from the REPZ as trading items to Afghanistan via land route. Revision of lease rates/annual ground rent will be decided by Export Processing Zone Authority, Board of Directors while 30% of manufactured goods to tariff areas will be allowed.
The ECC approved Bail Out Package for the PSM to meet its requirements for working capital and implementing its business plan. The Steel Mills will be extended terms loan facility of Rs. 8 billion for 5 years based on Government of Pakistan Guarantee by Consortium of Banks led by the NBP.
Running Finance Facility of Rs.2.00 billion to be provided will be renewable on yearly basis, in favour of Pakistan Steel Mills based on Government guarantee by Consortium of Banks led by the National Bank of Pakistan .
While considering the issue of revision of re-lending policy of foreign loans/credits, the ECC approved that provinces may avail re-lending of the foreign loans on the same terms and conditions on which loans are signed by the GOP. In this regard the provinces would be allowed to issue their own bonds. INP
The ECC gave approval for disposal of super basmati rice lying in PASSCO godowns by export to Middle East , Iran , Europe or any other market on government to government basis and through qualified agents at a minimum price of US $ 900/ton for super basmati within 5% limit of broken rice.
The ECC approved the strategy designed for ensuring regular supply of major as well as minor crops in order to sustain food security. The main elements of the strategy include timely announcement of support price for wheat and intervention/indicative price for major and minor crops.
It also decided to ensure timely availability of farm inputs at affordable prices with special emphasis on water conservation and its judicious use, setting area and production targets of major and minor crops in consultation with stakeholders, enhancing farmer’s access to modern crop varieties and new technologies and promoting adoption of good agricultural practices for production of major and minor crops.
In case of shortage of essential food commodities, their supply will be ensured by the public and private sectors through imports and maintenance of buffer stocks.
The ECC also approved the Standardized Security Agreements for hydro power projects under the Policy for Power Generation 2002. The ECC authorized the Board of PPIB to approve any project specific amendment in the Standardized Security Hydropower Agreements required during negotiations provided GOP obligations or liabilities are not increased.
The ECC approved the recommendations of the Committee on Revival of
the Risalpur Export Processing Zone which include allowing export of the manufactured goods from the REPZ as trading items to Afghanistan via land route. Revision of lease rates/annual ground rent will be decided by Export Processing Zone Authority, Board of Directors while 30% of manufactured goods to tariff areas will be allowed.
The ECC approved Bail Out Package for the PSM to meet its requirements for working capital and implementing its business plan. The Steel Mills will be extended terms loan facility of Rs. 8 billion for 5 years based on Government of Pakistan Guarantee by Consortium of Banks led by the NBP.
Running Finance Facility of Rs.2.00 billion to be provided will be renewable on yearly basis, in favour of Pakistan Steel Mills based on Government guarantee by Consortium of Banks led by the National Bank of Pakistan .
While considering the issue of revision of re-lending policy of foreign loans/credits, the ECC approved that provinces may avail re-lending of the foreign loans on the same terms and conditions on which loans are signed by the GOP. In this regard the provinces would be allowed to issue their own bonds. INP
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