ECC approves import of 160,000 MT of Urea fertilizers – Mettis Global Link

November 18, 2022 (MLN): The Economic Coordination Committee (ECC) has permitted Investing Corporation of Pakistan (TCP) for import of 125,000 MT on G2G basis from China and import of 35,000 MT on G2G foundation from Azerbaijan, a press launch issued by Fianance Division on Friday.

The Conference led by Finance Minister Ishaq Dar, reviewed a summary submitted by the Ministry of Industries and Manufacturing for the procurement of 200,000 MT of urea, and exposed that it had negotiated many selections, like import from Chinese corporations who have fully commited to offer the negotiated amount of urea fertilizer at the most affordable value.

After dialogue, ECC permitted TCP to continue forward for import of 125,000 MT on G2G foundation from China for meeting demand of Urea fertilizer and import of 35,000 MT on G2G basis from Azerbaijan.

In addition, ECC directed TCP to explore possible choices for import of remaining amount of Urea fertilizer to satisfy the strategic reserves of 200,000 MT.

In the course of the meeting, ECC also regarded as a summary tabled by Ministry of Power, Petroleum Division on Superior Speed Diesel (HSD)/Gas Oil high quality.

The ECC recommended that Pakistan Point out Oil (PSO) weighted average quality (KPC & Location) may possibly be utilized for HSD price tag computation as for each Federal Govt relevant coverage assistance and in case of larger HSD quality compensated by importing OMCs other than PSO, the differential of premium will be computed in the price tag.

In addition, ECC also approved specialized supplementary grant of Rs115 million in favour of Ministry of Housing and Will work.

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Posted on:2022-11-18T21:54:25+05:00

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