ECC okays 300,000 MT wheat import

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Mohammad Arshad
Islamabad

The Economic Coordination Committee (ECC) of the Cabinet, Wednesday, approved to import 300,000 MT of wheat.

ECC was briefed about the import of 300,000 MT of wheat through Trading Corporation of Pakistan (TCP) in compliance with the earlier decision of the ECC. Accordingly TCP opened the Ninth International Tender.

ECC met here with Federal Minister for Finance and Revenue Dr Abdul Hafeez Shaikh in the chair and approved a summary by Naya Pakistan Housing and Development Authority (NAPHDA) about revision in key parameters of mark up subsidy scheme for housing finance, as recommended by the State Bank of Pakistan, to ensure maximum participation for access to quality housing at an affordable price by fulfilling a relatively relaxed eligibility criteria.

Chairman, Naya Pakistan Housing and Development Authority (NAPHDA) presented revised eligibility criteria for selection of applicants, modalities for payment of cost subsidy and mechanism for release of funds with reference to the special incentive package for Housing and Construction sector, announced by the Prime Minister in July 2020.

After due deliberation, the Committee approved the stipulated eligibility criteria and payment mechanism for cost subsidy against 100,000 housing units to be constructed during phase-I by the end of the year.

The Committee urged NAPHDA to facilitate access to housing finance at affordable rates for expanding housing ownership in accordance with the vision of the Prime Minister, enabling low-to-middle income groups to avail low-cost housing facility according to their affordability.

The ECC considered and approved another summary by the Naya Pakistan Housing and Development Authority (NAPHDA) seeking permission to enter into negotiated procurement agreements for construction of low-cost housing through public-private partnerships (PPPs).

The Ministry of Industries and Production placed a summary before the Committee regarding late payment surcharge (LPS) for operations of SNGPL based fertilizer plants from September 2018 to November 2019.

After seeking input from relevant stakeholders, the Committee deferred the summary with a direction that LPS may be calculated on the actual cost incurred and a revised proposal be placed before the Committee for consideration.

Ministry of Energy (Power Division) tabled a summary regarding decision of the Authority for Fuel Charge Adjustment (FCA).

After detailed discussion, the Committee directed the Secretaries of the Finance and Power Divisions to deliberate further and present an updated proposal before the next ECC.

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