Pakistan to import 300,000 MT wheat at $372/MT

November 1, 2022 (MLN): Finance Minister Ishaq Dar in a meeting at the Economic Coordination Committee (ECC) finance division, and presented an offer for the supply of 300,000 MT of specified milling wheat $372 MT from Russia, press news released on Monday.

The ECC approved the offer of M/s. Prodintorg a state-owned enterprise of the Russian Federation for the supply of 300,000 MT of specified milling wheat $372 MT for the shipment period from 1st Nov 2022 to 15th Jan 2023.

Moreover, the Ministry of Energy Power Division presented a summary of oil marketing companies’ OMCs margins on petroleum products.

After comprehensive discussion, ECC approved the summary and allowed the agreed revised margin at Rs6 per liter but its implementation will be subject to fiscal space in POL prices.

The ECC approved the summary from the petroleum division on the amendment in the power purchase agreement for the commissioning of the designated project – CPEC – TCB – I (On Thar Coal) without financial close.

The project is 90% complete but the company was unable to achieve the Financial Close due to unforeseen events and reasons which led to delays in Sinosure and lenders’ approvals, he added.

The Ministry of energy power division presented another summary of the Pakistan energy revolving fund. the ECC after deliberation approved the opening of an assignment account under the title of Pakistan energy revolving fund to be opened with SBP Islamabad and operated by CPPA.

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