ECC allows import of 200,000 MT of wheat on CFR basis

July 28, 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet has allowed to import of 200,000 MT of imported wheat on CFR basis, said a press release issued today.

 Federal Minister for Finance and Revenue Mr Miftah Ismail presided over the ECC meeting at Finance Division today.

Ministry of National Food Security and Research submitted a summary on urgent advice relating to the award of 4th International Wheat Tender 2022 opened on 25th July 2022. It was informed that the Trading Corporation of Pakistan (TCP) issued the 4th tender on 19-05-2022 for securing a quantity of 200,000 MT of imported wheat on a CFR basis.

The tender was opened on July 25 wherein six international suppliers participated, out of which 05 offered rates.

The ECC after a detailed discussion approved the lowest bid offered by M/s Falconbridge FZ LLC at $ 407.49/MT CFR bulk on a sight LC basis with direction to TCP to negotiate with the Russian authorities to procure wheat at a lower rate subject to confirmation of the ECC.

Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Planning, Development and Special Initiatives Mr Ahsan Iqbal, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Federal Minister for Power Mr Khurram Dastgir Khan, Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema,   Mr Shahid Khaqan Abbasi – MNA/ex-PM, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, Minister of State for Petroleum Mr Musadik Masood Malik, Rana Ihsan Afzal, Coordinator to the PM on Commerce & Industry, Coordinator to the PM on Economy Mr. Bial Azhar Kayani, Federal Secretaries and senior officers attended the meeting.

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