ECC allows urea import on immediate basis

January 5, 2022: The Economic Coordination Committee (ECC) on Wednesday approved the import of 50,000 metric tons of urea from China on an immediate basis subject to clearance from Pakistan Standards and Quality Control Authority (PSQCA), said a press statement issued by the Finance Ministry.

The committee allowed the import on Government-to-Government (GoG) basis with the People’s Republic of China.

The ECC tasked the Trading Corporation of Pakistan (TCP) to negotiate prices with a Chinese supplier authorized by the government of China for further import of urea.

Meanwhile, the committee approved a summary, with some modifications, presented by the Ministry of Finance for rationalization of tariff on import of vehicles and other items requested by the Ministry of Industries and Production (MOIP) and other sectors.

The forum also decided to review some recommendations relating to the automotive sector after six months.

The ECC also approved requests of Technical Supplementary Grants (TSG) presented by the Petroleum Division and Finance Division. The request of the Power Division for TSG was also approved subject to the reconciliation with Finance Division.

APP