ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has allowed Trading Corporation (TCP) import of 300,000 metric tons urea and 0.80 million metric tons (MMT) of wheat.

The ECC meeting presided over by Finance Minister Ishaq Dar on Friday has approved Ministry of Commerce summary to suspend the date of implementation of IPO 2022 regarding import of timber and wood till 31st March, 2023.

The meeting was informed that all Pakistan Timber Traders Association (APTTA) requested for extension in the date of implementation of conditions of import permit. The federal government subsequently suspended the operation of import policy provisions till 31st August, 2022. APTTA has again approached with same request to support the wood business sector. In order to facilitate the import of wood/ timber, the ECC directed Department of Plant Protection (DPP) of Ministry of National Food Security & Research to review the conditions for import of wood and timber and to bring them in conformity with the international best practices so that the import of wood and timber will not be subjected to unnecessary and cumbersome procedures. However, to address the immediate concerns of the wood/ timber industry, the ECC approved the summary to suspend the date of implementation of IPO 2022 regarding import of timber and wood till 31st March, 2023

The ECC also approved summary of Ministry of Industries and Production and allowed TCP to proceed ahead with the lowest subject offer received @ US$ 520/MT for import of 300,000 MT of urea fertilizer. TCP floated international tender in this regard on October 19, 2022 and same was opened on October 26, 2022. The meeting was informed that three bidders offered rates. Lowest responsive bid was @ US$ 520 PMT for 300,000 MT.

On a summary of Ministry of National Food Security & Research seeking permission for the import of 0.80 MMT of wheat through TCP, the ECC allowed to import 0.80 MMT through open tendering as well as through G2G basis.

The meeting was submitted that ECC on 09-05-2022 allowed TCP to import 3 MMT of wheat and directed to devise import modalities. Modalities were devised and TCP was allowed to import 01 MMT of specified milling wheat through international tendering process. Later, public wheat stocks were re-verified by committee and reported that actual shortfall would be 2.60 MMT, instead of 3 MMT.

Therefore, TCP was allowed to import only 0.80 MMT through open tendering as well as through G2G basis out of remaining 1.60 MMT on 06-09-2022., the ECC approved the proposal and allowed TCP to arrange import of the remaining quantity of 0.80 MMT through open tendering or through G2G arrangement, before harvesting of the new crop. In addition, the ECC directed the concerned Ministry to frame and submit a logistic plan within 15 days.—ZAHEER ABBASI