The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has forwarded requests of All Pakistan Cement Manufacturers Association to the ECC for allowing import of Pet Coke Non-Calpine (PCT Coke 2713.1100) from India through land route via Wagha/Attari border in trucks. As per Import Policy Order, 2013, Pet Coke is importable from India via rail/sea route and not via land route by trucks as it is not included in Appendix G-1 of the import Order 2013.
The ECC has also taken a serious notice of the increase in price of urea after Minister for National Food Security and Research informed the meeting that fertiliser companies have arbitrarily increased the prices of urea by Rs.150/- per bag. The ECC decided to hold a meeting with fertiliser companies on Friday to discuss the matter. The Minister for Petroleum and Natural Resources, Minister for Industries and Minister for National Food Security and Research along with their respective Secretaries would also attend the meeting.
The ECC also directed the Ministry of Planning to submit within two days its report on the Housing of Fertiliser Review Committee, which is presently working under the Minister for Industries so that the anomaly could be removed and the committee could be placed under the relevant ministry.
The Cabinet Secretary informed the meeting that 16 meetings of the ECC were held during the last six months of the present government which is a record whereas 81 decisions were taken. Out of 81 decisions, 54 were implemented whereas 27 were under various phases of implementation. The Executive Committee of National Economic Council (ECNEC) also held six meetings during this period, which is also a record.
The ECC also decided to constitute a Committee under the chairmanship of Minister for National Food Security with Secretary Finance and Commerce as its member to review the incidental cost on import of urea including the role of National Fertiliser Manufacturer Limited (NFML) following a briefing by the Chairman Trading Corporation of Pakistan on the issue.
The Chairman TCP informed the ECC that a credit line of Rs.143 billion from various banks is near exhaustion and an additional amount of Rs.122 billion has accumulated on account of subsidy since 2004.The Finance Minister took a serious notice of the accumulation of outstanding of TCP and observed that these were liabilities of the previous government which must have been brought before the ECC earlier. The Finance Minister stated that the committee constituted on incidental charges would also suggest proposals for the resolution of issue as well.
The ECC appreciated the humanitarian assistance of US $ 1.86 million for the purchase of wheat being provided by World Food Programme for assistance of earthquake affectees of Balochistan and its purchase from PASSCO. The ECC decided to allow Lucky Cement Limited to remit US $ 40 million in four quarterly instalments of US $10 million each as equity investment for setting up a cement manufacturing plant in Congo from inter-bank market. The ECC had earlier allowed them to purchase it from open market.
The ECC decided to approve subject to clearance of Revised PC-I by CDWP and ECNEC to award the balance works and additional works of rehabilitation including construction of four bridges to Frontier Works Organisation by National Highway Authority (NHA) as permissible under the PPRA Regulation issued vided SO Notification 719(1)2011 dated 18th July, 2011.
The ECC noted the OGRA's report on petroleum products' prices and its analyses of price trends of international oil prices and the commensurate trend in the domestic prices of oil. The ECC directed Ministry of Petroleum to present its recommendations on the report in the next meeting.
Sources said the Finance Minister was very annoyed on media reports about the ECC decisions; he asked why these were not rebutted by the concerned ministries and why Finance Ministry had to issue clarifications. The Minister also issued future directives to the ministries and divisions stating that if the news items are incorrect or need clarification, the relevant Secretary Incharge must issue necessary rejoinders to ensure transparency of the decisions. Dar further stated that Secretaries of the Economic Ministries should come to the ECC meeting fully prepared with complete information relating to his or her Ministry and bring their cases before ECC after completing consultations with other Divisions, wherever necessary, so that timely decisions could be made.
He said all the Ministries required maintaining budgetary discipline and no cases for regular supplementary grants be moved unless absolute necessary. The Secretaries would be responsible to remain within the reduced budgetary allocations and exercise austerity instead of moving cases for supplementary grants.
Federal Minister for Information and Broadcasting Senator Pervez Rashid, Federal Minister for Petroleum and Natural Resources Shahid Khaqaan Abbasi, Federal Minister for Food and National Security Sikandar Bosan, Federal Minister for Planning and Development Ahsan Iqbal, Federal Minister for Science and Technology Zahid Hamid, Federal Minister for Commerce Khurram Dastagir, Minister of State for Information Technology Anusha Rehman, Governor State Bank of Pakistan Yaseen Anwar, Chairman Federal Board of Revenue Tariq Bajwa, Chairman Securities and Exchange Commission Tahir Mehmood, Chairman Privatisation Commission Muhammad Zubair and senior officials of the federal government attended the meeting.