Import of urea from China, Azerbijan allowed.

ISLAMABAD -- The Economic Coordination Committee (ECC) of the Cabinet on Friday allowed to import urea from China and Azerbijan. Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC). Ministry of Industries and Production submitted a summary on procurement of 200KMT urea and shared that the Ministry has negotiated on various options including import from Chinese firms which have committed to supply the negotiated quantity of urea fertilizer on lowest rate. The ECC after discussion allowed TCP to proceed ahead for import of 125,000 MT on G2G basis from China for meeting demand of urea fertilizer and import of 35000 MT on G2G basis through M/s Socar from Azerbijan. The ECC further directed TCP to explore feasible options for import of remaining quantity of Urea fertilizer to meet the strategic reserves of 200,000 MT. The ECC considered a summary submitted by Ministry of Energy, Petroleum Division on high speed diesel (HSD)/gas oil premium. Considering the increasing demand...