ECC approve proposal to fix dealers margin at Rs. 7.00/liter for MS, HSD.
ISLAMABAD -- The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved the proposal to fix dealers margin at Rs. 7.00/liter for Motor Spirit (MS) and High Speed Diesel (HSD).
Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division today.
The Petroleum Division submitted a summary on revision of OMCs and dealers margins on petroleum products, said a press release issued here.
It was informed that the existing margins were fixed in December , 2021 and Pakistan Petroleum Dealers Association has approached the government for immediate revision of their margins due to inflation, increase in tariff salaries and utility bills, etc, said press release issued here. Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Planning, Development and Special Initiatives Prof. Ahsan Iqbal, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Federal Minister for Power , Khurram Dastgir Khan, Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema, Shahid Khaqan Abbasi - MNA/ex-PM, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Musadik Masood Malik, Rana Ihsan Afzal, Coordinator to the PM on Commerce and Industry, Coordinator to the PM on Economy, Bial Azhar Kayani, Federal Secretaries and senior officers attended the meeting.
Ministry of National Food Security and Research submitted a summary on urgent advice relating to award of 4th International Wheat Tender 2022 opened on 25th July, 2022.
It was informed that Trading Corporation of Pakistan (TCP) issued 4th tender on 19-05-2022 for securing quantity of 200,000 MT of imported wheat on CFR basis.
The tender was opened on 25-07-2022 wherein six (06) international suppliers participated, out of which 05 offered rates. The ECC after detailed discussion approved the lowest bid offered by M/s Falconbridge FZ LLC@ US$ 407.49/MT CFR bulk on sight LC basis with direction to TCP to negotiate with the Russian authorities to procure wheat on lower rate subject to confirmation of the ECC.
Ministry of Water Resources submitted a summary on compensation package for the Chinese causalities at Dasu Hydro Power project.
The ECC decided that the amount of compensation/ good will package will remain the same as per ECC's earlier decision dated January 21,2022 ( i.e US$ 11.6...
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