The Cabinet’s Economic Coordination Committee (ECC) on Monday approved the continuation of the Regionally Competitive Electricity Tariff (RCET) for export-oriented sectors during CFY 2022-23 and decided that electricity may be provided at Rs. 19.99 per kWh all-inclusive to five export-oriented sectors namely textile including jute, leather, surgical and sports goods across the country from October 1, 2022, to June 30, 2023.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet, said a press release issued here by the finance division.
In view of the higher cost of import of wheat associated with the two proposals, the ECC approved the proposal that both amendments to TCP tender inspection may be dropped for the time being.
However, pre-shipment inspection should be ensured at the loading port from the top four inspection firms by TCP/Ministry of Commerce. TCP was also directed to issue fresh tenders to ensure the import of the allocated quantity of Wheat.
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The Ministry of National Food Security and Research presented a summary to consider proposals to use Gwadar port and revision of procedure for the pre-shipment inspection agency for the import of wheat.
The ECC was informed that the reason for the higher price in limited bids received, in the tender dated September 26, 2022, was increased risks due to changes in the inspection regime and port.
Further, the ECC also approved a Supplementary Grant of Rs. 410.181 million in favour of the Ministry of Interior for expenses relating to law and order
The ECC deferred summary of the Ministry of National Food Security & Research on the profitable support price of Wheat Crop 2022-23.
Federal Minister for National Food Security and Research, Chaudhary Tariq Bashir Cheema, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Federal Secretaries and senior officers attended the meeting.
