ECC approves 85,000 metric tonnes of wheat for TDPs

The finance ministry will pay Rs3.444 billion for the wheat, as fixed by PASSCO

Web Desk June 06, 2015

Finance Minister Ishaq Dar chairing a meeting of the Economic Coordination Committee (ECC) at the PM House on Saturday. PHOTO: PID

ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) on Saturday approved release of 85,000 metric tonnes of wheat for the temporarily displaced people of federally administered tribal areas (Fata) and Khyber-Pakhtunkhwa.

Chaired by Minister of Finance Ishaq Dar at the Prime Minister House on Saturday, the committee reviewed and approved a proposal moved by the Ministry of States and Frontier Regions (SAFRON) for releasing the wheat.

The ECC had earlier earmarked 155,000 MT of wheat for TDPs for consumption between June and September 2015. The finance ministry will pay Rs3.444 billion for the wheat, as fixed by PASSCO.

Read: Dar clears release of 85,000 tonnes of wheat for TDPs

The announcement comes a day after federal authorities allocated Rs100 billion for the rehabilitation of temporarily displaced persons (TDPs) under the head of ‘security enhancement’ in budget 2015-16.

Read: Rs100b rehabilitation fund drawn up for TDPs

The committee also approved an extension for export of 1.2 million tonnes of wheat till the July 31, 2015 for Punjab and Sindh.

ECC allows PSO to import premier motor gasoline

On a summary moved by the Ministry of Petroleum and Natural Resources for the Import of Petroleum Products on C&F basis, ECC decided that PSO is allowed to import Premier Motor Gasoline (PMG) and Low Sulphur Furnace Oil (LSFO) on C&F basis while import of High Sulphur Furnace Oil (HSFO) would be through PNSC.

“For the Import of LNG –Use of FSRU to pick next four cargoes of LNG on FOB Basis from RAS LAFFAN Qatar”, the ECC decided that PSO being a corporate entity may decide on the issue of buying LNG on FOB basis till finalisation of LNG supply agreement with Qatar.

ECC also approved pricing parameter for RLNG which includes PSO’s margin up to 4% and SNGPL/SSGL administrative margin up to $0.05/MMBTU (rupee equivalent), subject to review after three months by a Committee consisting of Secretary Finance, Secretary Petroleum, Secretary Water and Power and Secretary Law.

On a Summary moved by the Ministry of Petroleum and Natural Resources for “Fast Track LNG Import Terminal, LNG Services, Storage and Re-gasification by EETPL at Port Qasim”, ECC allowed the PQA (Port Qasim Authority) to follow the SIGTTO Standards or to decide on its own technical parameters for berthing of LNG ships.