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ECC okays lowest bid to import wheat from Cereal Crop at $372/MT

ECC fixes minimum take
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December 05, 2022 (MLN): The Economic Coordination Committee (ECC) of the Cabinet on Monday approved the lowest bid from Cereal Crop Trading LLC at $372 per MT for the supply of 130,000 MT wheat at Karachi ports for the shipment period from December 16, 2022, to February 8, 2023, the statement issued by Finance Division revealed today.

The summary of the Award of 7th International Wheat Tender 2022 opened on November 30, 2022,  was submitted by the Ministry of National Food Security and Research.

ECC also granted approval of the offer of Prodintorg, Russia on a G2G basis of $372 per MT for a supply of 450,000 MT at Gwadar Port for the shipment period from February 1, 2023, to March 31, 2023.

It was decided that any additional cost on inland transportation from Gwadar Port will be borne by PASSCO to be recovered from provinces at the time of the release of wheat stock.

The committee also approved the proposal of the Finance Ministry to change the title of the revolving fund account for CPEC Independent Power Producers from “Pakistan Energy Revolving Fund” to “Pakistan Energy Revolving Account”.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over today’s meeting.

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Posted on: 2022-12-05T15:18:15+05:00