ECC approves import of 100,000 tons urea
Last updated on: 03 April,2019 10:38 pm
The ECC directed relevant institution to check market manipulation activities in fertilizer sector
ISLAMABAD (Dunya News) – The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved import of 100,000 tons of urea fertilizer to cater to the demand of farmers.
The committee, which met with Finance Minister Asad Umar in the chair, also decided to allow additional import of urea in the event of any demand-supply gap.
It directed the Ministry of Industries and Production to review the price mechanism of fertilizer industry for ensuring provision of urea to the farmers at cheaper rates.
The ECC directed the relevant institution to check market manipulation activities in the fertilizer sector and use all the powers available under the law to penalize elements involved in that practice.
Earlier, the officials of the Industries and Production Division briefed the committee about the availability of urea in the country.
They also apprised the committee about the status of National Accountability Bureau cases against seven persons involved in corruption in Pakistan Steel Mills.
An Interior Division official told the meeting that the names of seven accused had been recommended for placement on the Exit Control List (ECL).
A Utility Stores Corporation official informed the committee about the Ramzan Package. The ECC directed the Industries Division to ensure that the Ramzan Package was implemented effectively and the intended relief was passed on to consumers.
The committee was briefed by a Statistics Division official about inflation and prices of various items in the country.
It was decided to constitute a sub-committee, under the chairmanship of Minister for National Food Security and Research, to review the supply and demand situation of essential food items to ensure their stable prices.
The committee accorded approval to a proposal of Ministry of Petroleum regarding the fuel supply agreement between Pakistan State Oil (PSO) and State Oil Company of the Republic of Azerbaijan (SOCAR).
It also considered and approved various proposals for supplementary and technical supplementary grants.