ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Thursday (today) is expected to allow gold import through select major gold importers, well-informed sources in the Commerce Ministry told Business Recorder.

The ECC headed by the Finance Minister Ishaq Dar had extended a ban on the import of gold till April 30, 2014 and directed the Commerce Ministry to bring a summary to the meeting.

According to sources, the Commerce Ministry proposed opening of gold import across-the-board.

The ECC will also consider Ramzan Package of the Utility Stores Corporation (USC) which is unlikely to be approved as it is premature considering that Ramzan will fall in the last week of June 2014.

According to sources, the Ministry of Water and Power submitted a summary to the ECC with regard to some incentives to the IPPs.

The Ministry of Industries and Production will try to table a summary on fixation of dealers’ margin as offtake of urea stocks in NFLM is negligible.

Finance Minister Ishaq Dar will brief the ECC about the state of economy and his visit to the US and meetings with the IMF and US officials.—MUSHTAQ GHUMMAN