PASSCO will sale 500,000 tons of surplus wheat

Lahore : The Economic Coordination Committee of the Cabinet (ECC) in its meeting held here at the PM’s Office on Tuesday with Prime Minister Shahid Khaqan Abbasi in chair allowed the export of 1.5 million metric tons of sugar in view of the commodity’s surplus availability.

The ECC allowed the export of sugar while taking into account the recommendations of recent Council of Common Interests (CCI) meeting,  a press release issued by the PM’s Media Office here said.

The ECC also permitted the procurement of goods and services as per the provisions of the Framework Arrangement and Export-Import Bank of Korea Guidelines.

In order to discourage fuel adulteration and tax evasion, the ECC allowed addition of Fuel Marker in Superior Kerosene Oil (SKO).

The ECC also approved determination and notification of UCH-II Gas Price, as agreed under Gas Pricing Agreement (GPA) by Oil & Gas Regulatory Authority under the OGRA Ordinance, 2002.

The ECC accorded its approval for making necessary amendments in the ECC approved Supplemental Agreement to Implementation Agreement (SAIA) for China Pakistan Economic Corridor (CPEC) projects.

The ECC also acceded to a proposal for levying of regulatory duty on import of Liquified Petroleum Gas (LPG). The step would help maintaining parity with the locally produced LPG.

The ECC also allowed disposal of 500,000 tons of surplus wheat of PASSCO through local sale.