ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet here on Tuesday decided to provide additional sugar to the Utility Stores Corporation for augmenting sale of the commodity.
The committee which met here under the chairmanship of Federal Minister for Finance, Shaukat Tarin decided to provide additional sugar from imported as well as local stocks to USC for sale of the commodity at Rs. 38 per kg.
The committee was informed that at present Balochistan was provided 1354 tons, NWFP 7024 tons, Sindh 4241 whereas Punjab is being provided 678 tons of sugar.
It was further decided that additional supply from Trading Corporation of Pakistan (TCP) from imported sugar, Balochistan, ICT and NAs would be provided 4,000 tons sugar, NWFP would be provided 13000 tons from local stock, Sindh 10,000 from the imported stock whereas Punjab would be provided 27000 tons from imported and 2000 existing at Pipri.
This additional sugar will be sold openly and in packets, at the 5700 USC outlets during the next 30 days at the rate of Rs.38 per kg on first come first serve basis, it said.
However, the restriction of two kg per person will apply. The difference of sale price of USC and the supply prices of TCP and incidental handling charges of USC will be picked up by the government.
The ECC also directed Ministry of Industries to contact provincial governments of Punjab and Sindh to ensure availability of sugar in the market.
While discussing the natural gas load management programme for winter 2009-10, the ECC decided for diversion of gas from Karachi Electric Supply Company (KESC) to SNGPL system.
It also decided that SSGC will divert additional 50 MMCFD gas from Sawan gas field to SNGPL during winter 2009-10 by curtailing KESC’s gas supply.
KESC will reduce its gas supply by 50 MMCFD during winter 2009-10 out of 190 MMCFD previously earmarked for KESC.
In lieu of reduction in gas supply, KESC would be supplied Fuel Oil by Pakistan State Oil Company Limited (PSOCL).
On the issue of revival of Risalpur Export Processing Zone, the ECC formed a Committee consisting of Secretaries of Ministry of Industries, Finance and Commerce. The Committee will submit its report in the next meeting of ECC.
The ECC also formed a committee, led by Finance Secretary, to settle the issue of outstanding dues against electricity by the federal and provincial governments departments.
The Ministry of Water and Power briefed the ECC about steps taken by the National Electric Power Regulatory Authority (NEPRA) to regulate the Karachi Electric Supply Company (KESC).
The ECC was also briefed about the national economic situation and told that monthly core inflation rate has decreased from 11.9 percent in September, 2009 to 11.0 percent in October, 2009.
During July-October 2009-10, the average CPI-based inflation stood at 10.20 percent as against 24.64 percent in the same period last year.
The meeting was informed that the stock of wheat as on November 9, 2009 amounted to 8.436 million tons as against 2.731 million tons in the same period last year, thereby showing a higher stock of about 5.705 million tons compared with last year.
Exports increased by 8.18 percent in October 2009 over the same month of last year.
In absolute terms, exports amounted to $ 6.08 billion in July-October 2009-10 as compared to $ 6.69 billion in the comparable period last year.
Imports recorded a negative growth of 14.12 percent in October 2009 over the same month of last year.
Trade deficit improved by 41.1 percent to $ 4.46 billion in July-October 2009-10 from $ 7.58 billion in the same period last year.
Workers remittances amounted to $ 3,089.8 million in July-October 2009-10 as against $ 2,346.0 million, showing an increase of 31.7 percent over the same period last.
Foreign exchange reserves stood at $ 14.1 billion as on November 13, 2009 - up from $ 6.4 billion on November 25, 2008.......LINK
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