ECC approves continuation of regionally competitive electricity tariff for export oriented sectors

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Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet, on Monday.

Federal Minister for National Food Security & Research Chaudhary Tariq Bashir Cheema, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Federal Secretaries and senior officers attended the meeting.

Ministry of National Food Security & research presented a summary to consider proposals to use Gwadar port and revision of procedure for pre-shipment inspection agency for import of Wheat. The ECC was informed that the reasons for higher price in limited bids received, in tender dated 26th September, 2022, was increased risks due to change in inspection regime and port.

In view of the higher cost on import of wheat associated with the two proposals, ECC approved the proposal that both amendments to TCP tender inspection may be dropped for the time being. However, pre-shipment inspection should be ensured at the loading port from the top four inspection firms by TCP/Ministry of Commerce. TCP was also directed to issue fresh tenders to ensure import of allocated quantity of Wheat.

On another summary from Ministry of Commerce, in order to keep export oriented sectors internationally competitive and sustain exports in backdrop of economic slowdown, the ECC approved continuation of Regionally Competitive Electricity Tariff for Export Oriented Sectors during CFY 2022-23 and decided that Electricity may be provided at Rs. 19.99 per kWh all inclusive to five export oriented sectors namely textile including jute, leather, surgical and sports goods across Pakistan from 1st October, 2022 to 30th June 2023.

Further, the ECC also approved Supplementary Grant of Rs. 410.181 million in favour of Ministry of Interior for expenses relating to law and order

The ECC deferred summary of Ministry of National Food Security & Research on profitable support price of Wheat Crop 2022-23.

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