ECC approves tender to import 120,000 MT Wheat
News Report
Islamabad: The economic coordination committee (ECC) has approved the lowest bid for the import of 120,000 metric tons of wheat.
ECC accorded approval for the lowest bid received for the award of the fourth international wheat tender for the FY 2021-22 to import 120,000 MT of wheat.
Ministry of National Food Security & Research had tabled a summary in this regard.
The Finance Minister, as a Chairman of ECC, stated that mutual consultation will pave the way for collective decision-making under the umbrella of Cabinet Committees. This facilitates the process of decision-making in the public sector.
The ECC also considered and approved another summary for the purchase of 40,000 MT of Wheat from PASSCO by the World Food Programme (WFP).
Federal Minister for Finance and Revenue Mr. Shaukat Tarin, presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet.
Sugar Import
Secretary, M/o Industries and Production briefed the Committee about the availability of sufficient stocks of sugar.
He further apprised about the steps being taken to import sugar for building strategic reserves.
After a detailed discussion, the ECC approved to import sugar in 03 segregated tenders of 50,000 MT each so that there is more participation and increased competition when international prices fall down.
The Committee further emphasized ensuring a smooth supply of sugar throughout the country and directed to initiate crushing by sugar mills at the beginning of November 2021 as done last year.
Finance Division presented an updated summary regarding Kamyab Pakistan Program (KPP) before ECC. The program has been streamlined in consultation with stakeholders to disburse microcredit for uplifting marginalized segments of society.
KPP has five components namely (i) Kamyab Karobar (ii) Kamyab Kissan (iii) Naya Pakistan low-cost Housing (iv) Kamyab Hunarmand and (v) Sehatmand Pakistan.
Read More:ECC allows import of sugar, wheat to build reserves
Under the first 03 components, micro-loans shall be disbursed amongst eligible persons registered with Ehsaas Data through the National Socio-Economic Registry (NSER) who have a family income of up to Rs.50,000 per month.
The last two components of KPP will be integrated with the existing programs. KPP is aimed to integrate with Government’s ongoing skill development program for imparting educational and vocational training.
As per the revised framework of KPP, the selection of Wholesale Lenders (Banks) will be through competitive bidding in line with PPRA rules.
The government will select Micro Finance Providers (MFPs) by the wholesale lenders. The Government will provide two guarantees (i) a 10% first loss guarantee to MFPs and (ii) a 50% guarantee to Wholesale Lenders (WLs) on a pari-passu/ risk-sharing basis.
During the first phase, the government will launch KPP in Balochistan, Khyber Pakhtunkhwa, Gilgit-Baltistan, AJK, and a few of the poorest districts of Sindh and Punjab. KPP will be extended to the whole of Pakistan eventually.
On the implementation side, the Kamyab Pakistan Information System (KPIS), a digital portal, is being established which is fully integrated with telecommunication companies, NTC, Ehsaas/NSER, and NADRA for verification of beneficiary’s eligibility.
After due deliberation, the ECC approved the Kamyab Pakistan Program for onward submission before the Cabinet.
The members of ECC commended the salient features of the Kamyab Pakistan Program and regarded it a flagship initiative of the present government to empower the under-privileged population having limited resources.
The ECC considered and approved another summary by the Finance Division regarding the fixation of dividends at the rate of 10% on the face value of SBP shares for the financial year ended on June 30, 2021.
Ministry of Industries and Production presented a summary regarding approval for disbursement of salaries to PSM employees for the FY/2021-22.
After due deliberation, the ECC accorded approval for payment of salaries to the employees on monthly basis till the implementation of the complete human resource retrenchment plan.
The ECC considered and approved a Technical Supplementary Grant (TSG) in favor of the Ministry of Interior for the construction of Frontier Constabulary Training Centre, Michni, Khyber Pakhtunkhwa amounting to RS.50 million during FY 2021-22.
M/o Energy presented a summary regarding financial support to GENCOS. After detailed deliberations, the ECC approved Rs. 500 million as a Technical Supplementary Grant out of the total budget allocated to the Power Division.
