ECC okays import of 120,000 metric tonnes of wheat

July 20, 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the import of 120,000 metric tons of wheat, said a press release issued today.

The meeting of the ECC was held under the chairmanship of the Federal Minister for Finance and Revenue Miftah Ismail.

As per the press statement, the Ministry of National Food Security and Research tabled a summary on urgent advice relating to the award of the 3rd International Wheat Tender 2022 opened on 18th July 2022.

The ECC after discussion approved the lowest bid offered by M/s Vittera B.V / Marine International @ $404.86/ MT for 120,000 MT on CFR bulk at sight L/C basis.

Further, the Trading Corporation of Pakistan (TCP) was allowed to match the tender quantity of 300,000 MT. 

Earlier today, while speaking at a press conference, Miftah Ismail, revealed that Pakistan has bought additional wheat for emergencies and crises. He said the country is currently importing 300,000 tonnes of wheat on top of the already purchased 500,000 tonnes. The total wheat import currently stands at 800,000 tonnes.

Commerce Minister Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Minister of State D. Aisha Ghous and others attended the meeting.

Copyright Mettis Link News