ECC approves wheat stock disposal by Punjab till March 31

ECC

The Economic Coordination Committee (ECC) of the Cabinet on Friday approved disposal of the entire wheat reserve stock, by the Punjab government till the cut-off date of March 31.
The ECC, which met here with Federal Finance Minister Saleem H. Mandviwalla in the chair, also decided that the strategic wheat reserve of one million ton, if required, might be maintained by the Pakistan Agriculture Storage and Services Corporation (PASSCO) only after the cut off date before the commencement of new procurement.
The summary in this regard was presented by the Ministry of Finance. On a summary of the Ministry of National Food Security and Research, the ECC approved donation of 75,000 ton wheat to the World Food Programme for internally displaced persons of Federally Admnistered Tribal Areas and Khyber Pakhtunkhwa. The Ministry of Petroleum and Natural Resources informed the ECC that Latif Field was expected to produce up to 77.3 MMCFD gas during the fourth quarter of this year, whereas allocation from this field had been made for 25 MMCFD. The ECC approved allocation of 77.3 MMCDF gas from Latif Field to the Sui Southern Gas Company Ltd (SSGCL) and the Sui Northern Gas Pipelines Ltd (SNGPL) on equal sharing basis.
On a summary moved by the Ministry of Petroleum and Natural Resources, the ECC decided to allow import of cylinders/kits for which L/C opened or bank contract (as per State Bank regulations) has already been concluded before December,31, 2012. For the purpose of developing export oriented business of CNG conversion kits, the ECC allowed import of their parts/components for export of kits only subject to the condition that those parts were not locally manufactured.
On two summaries moved by Ministry of Petroleum and Natural Resources, the ECC approved the arrangement of diversion of already allocated gas from Engro’s old plant to their new one till December 31, 2013 and the allocation of gas from RetiMaru, Sara West and Mari New Discovery to Engro in the interim period till the implementation of ECC earlier decision.
On another summary moved by the Ministry of Petroleum, the ECC approved M/s Byco’s request for reimbursement of operational cost of Single Point Mooring (SPM) through IFEM as per PARCO rates.

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