Monday October 31, 2022

ECC Approves Import of 300,000 MT Wheat From Russia

The Economic Coordination Committee (ECC) has approved the summary for the purchase of 300,000 MT of wheat from Russia on a government-to-government (G2G) basis.

The ECC meeting was presided over by Federal Minister for Finance and Revenue Ishaq Dar.
The summary for the wheat import was presented by the Ministry of Commerce. The government would import 300,000 MT of specified milling wheat at $372/MT for the shipment period from 1st November 2022 to 15th January 2023.

Another summary, regarding the revision of dealers’ margins on petroleum products, was presented before the ECC by the Ministry of Energy.
The summary was approved after due diligence, revising the margin at Rs. 6 per litre, however, its implementation will be subject to fiscal space in petroleum prices.

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