ECC approves bids for import of 580,000 MT wheat

Federal Minister for Finance and Revenue. Senator Mohammad Ishaq Dar presiding over the meeting of the Economic Coordination Committee (ECC) of the Cabinet.

ISLAMABAD, Dec 5 (APP): The Economic Coordination Committee (ECC) of the cabinet here on Monday approved lowest bids of two companies for import of 580,000 metric tons wheat through Karachi and Gwadar ports.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting, according to press statement issued by the finance ministry here.

Keeping in view results of 7th International tender and government-to-government (G2G) offer, the ECC approved the lowest bid from M/s Cereal Crop Trading LLC @ US$ 372/MT for supply of 130,000 MT at Karachi ports for the shipment period from December 16, 2022 to February 8, 2023.

The committee also granted approval of the offer of M/s Prodintorg , Russia on G2G basis @US$ 372 /MT for supply of 450,000 MT at Gwadar Port for shipment period from 1st February 1st 2023 to March 31st, 2023.

Ministry of National Food Security and Research had submitted a summary on Award of 7th International Wheat Tender 2022 opened on November 30, 2022.

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 release of wheat stock.

The cabinet committee also approved proposal of 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”.