ECC approves wheat export extension till March 15th

19.01.2017

The Economic Coordination Committee (ECC) of the Cabinet has approved an extension in the period of the export of wheat and wheat products till 15th of March, keeping in view surplus wheat stocks. The committee met in Islamabad on Wednesday with Finance Minister Ishaq Dar as Chair.

The meeting also approved the payment of salary to the employees of Pakistan Steel Mills for October. The Federal Minister for Finance, Senator Mohammad Ishaq Dar, chaired the meeting of the ECC at the Prime Minister's Office on Wednesday. Approval was also granted for additional guarantees of Rs 10.5 billion to cater to PIA's financial needs. The ECC considered and approved the proposal of the Aviation Division to increase the Government of Pakistan's guarantee limit for Pakistan International Airlines Corporation Limited (PIACL) by Rs. 10.5 billion from Rs 151 billion to PKR 161.5 billion, in order to cater to the immediate financial needs of PIACL.

Economic Coordination Committee also decided to form a committee to be chaired by the Federal Minister for Planning and Development, Ahsan Iqbal, and comprising of Mohammad Zubair, Chairman Privatization Commission, Mr. Haroon Akhtar Khan, Special Assistant to Prime Minister on Revenue, Mr. Tariq Bajwa, Secretary EAD, and Acting Chairman PIA Irfan Elahi to finalise a business plan for improving the financial and operational performance of PIACL on a sustainable basis, in coordination with PIA management.

ECC also considered and approved the proposal by the Ministry of National Food Security and Research for an extension of the time period for the export of surplus wheat and wheat products, from 31st December 2016 to 15th March 2017.

In view of the availability of surplus wheat stocks in the country, the Economic Coordination Committee also allowed the export of an additional quantity of 400,000 tons of wheat and wheat products by Punjab and Sindh governments.


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