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ECC approves import of 340,000 metric tonne of wheat from Russia

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the import of 340,000 metric tonnes of wheat from Russia.
The approval was granted during its meeting held here on Thursday with Finance Advisor Dr Abdul Hafeez Shaikh in the chair.
The ECC considered the summary moved by the Ministry of National Food Security and Research on the status of wheat import through Trade Corporation of Pakistan. The ECC was briefed that the fifth tender was issued on 9th October 2020 for the procurement of wheat. It was opened on 14-10-2020 and according to TCP 06 parties participated in the bidding process.
Keeping in view the offers received, the MNFS&R requested ECC for the approval of the lowest bid offer by M/s GTCS for quantity of 340,000 MT of imported wheat and the permission to distribute the imported quantities equally among 3 recipient agencies i.e PASSCO, Punjab and KP.
They also requested for approval, in principle, for procuring additional quantities from Russia by TCP. The ECC granted approval for the import of 340,000 MT of wheat and decided that the imported quantities shall be distributed amongst the three parties’ i.e PASSCO, Punjab and KP in proportion to what they have ordered/ demanded.
The ECC also granted approval in principle for the import of wheat from Russia by TCP, for which a detailed summary regarding the fresh offer from the Russian government along with quantities will be presented before ECC for approval. TLTP