Islamabad July 20 2022: The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved the import of 200 KMT Urea from Chinese companies on discounted rates when compared with International prices.
Ministry of Industries and Production submitted a summary seeking authorization to TCP for signing agreement with Chinese firms for import of 200 KMT Urea from M/s Sinochem Fertilizer and M/s CNAMPGC at negotiated rate of US$ 500/MT (FoB) on 90 days deferred payment with markup basis. The ECC approved the summary subject to discussion and decision in the Cabinet regarding allocation of Rs. 22 billion for this import with US$ 100 million as exchange cover, which has not been allocated into the budget 2022-23.
Ministry of National Food Security and Research tabled a summary on urgent advice relating to award of 3rd International Wheat Tender 2022 opened on 18th July, 2022. The ECC after discussion approved the lowest bid offered by M/s Vittera B.V / Marine International @ US$ 404.86/ MT for 120,000 MT on CFR bulk at sight L/C basis. Further TCP was allowed to match the tender quantity of 300,000 MT.
Ministry of Energy (Petroleum Division) tabled a summary on rate of Petroleum Levy on Liquefied Petroleum Gas(LPG). The ECC returned back the summary to the Ministry for reconsideration of the proposal.