ECC allows TCP to carry on pre-shipment inspection of imported wheat at ports.

ISLAMABAD -- The Economic Coordination Committee (ECC) of the Cabinet on Wednesday allowed Trading Corporation of Pakistan (TCP) to carry on pre-shipment inspection of imported wheat at ports to ensure quality of imported wheat as per approved specifications.

The ECC granted approval to a summary submitted by Ministry of Commerce and allowed TCP to carry on pre-shipment inspection of imported wheat at load ports by its already pre-qualified six (06) international pre-shipment inspection agencies (PSIAs) to ensure quality of imported wheat as per approved specifications. It was informed that a number of wheat consignments are due in coming months.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet. The ECC considered a summary of Ministry of Energy (Petroleum Division) and granted extension in Adam X-1 development and production lease for a period of five years w.e.f. 10-02-2022 in order to increase the domestic oil and gas production and to reduce burden of imported energy. Adam X-1 Development and Production lease was granted for a period of seven years w.e.f. 10-02-2015, covering an area of 19.42 sq. km and located in district Sanghar. The field still has potential for further commercial production.

The ECC considered another summary of Ministry of Energy (Petroleum Division) and allowed one-year extended Well Testing (EWT) over Umair SE-1 Discovery Guddu (E.L) w.e.f. start of production under EWT arrangements. It was informed that an exploration licence (EL) was granted over Guddu Block in 1999, operated by M/s OGDCL. Based on the results of seismic data , OGDCL has made a new discovery in the Guddu EL from the Habib Rahi Limestone and Pirkoh Limestone by drilling a well namely Umair S.E-1. The ECC also considered a summary of Ministry of National Health Services, Regulations and coordination and approved increase in MRPs of one (01) drug as per recommendation of Drug pricing Committee. The ECC considered a summary of Ministry of Poverty alleviation and Socialw Safety on subsidy for wheat seed (Rabi 2022-23) and allowed provision of Rs. 8.39 billion through TSG in favour of BISP for cash subsidy to farmers of flood affected...