ECC okays import of 0.95m tonnes of wheat
The Economic Coordination Committee (ECC) of the Cabinet on Monday accepted offers for the import of almost 950,000 tonnes of wheat including 450,000 tonnes from Russia at the same rate of $372 per tonne. With this, Russia has become the single largest wheat supplier to Pakistan this year, taking total quantities to 750,000 tonnes. The meeting of the ECC presided over by Finance Minister Ishaq Dar also approved the change of the title of the revolving fund account for CPEC Independent Power Producers from “Pakistan Energy Revolving Fund” to “Pakistan Energy Revolving Account” to satisfy Chinese financial institutions as required under the CPEC framework agreement. Regarding the import of wheat, the Ministry of National Food Security and Research reported the results of the 7th international wheat tender opened on Nov 30 and an offer from a Russian entity on a G2G basis.